EURUSD Daily Analysis – April 21, 2020

EURUSD moved sideways in a trading range between 1.0812 and 1.0905. As long as 1.0905 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.0990, and further decline to 1.0700 area is possible after the consolidation. On the upside, a break 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