EURUSD Daily Analysis – April 22, 2020

EURUSD failed to break below 1.0812 support and stayed in a trading range between 1.0812 and 1.0905. The price action in the range is likely consolidation for the downtrend from 1.0990, further decline to 1.0700 area is possible after the consolidation. On the upside, a breakout of 1.0905 resistance would indicate that the downside movement from 1.0990 had completed at 1.0812 already, then another rise towards 1.1000 could be seen.

EURUSD 4-hour chart