EURUSD Daily Analysis – April 20, 2020

EURUSD remains in the downtrend from 1.0990, the bounce from 1.0812 is likely consolidation for the downtrend. As long as 1.0905 resistance holds, the downtrend could be expected to resume, and further decline to 1.0700 area is possible. On the upside, a breakout of 1.0905 resistance would indicate that the downside movement had completed at 1.0812 already, then another rise towards 1.1000 could be seen.

EURUSD 4-hour chart