Technical Analysis Daily: EUR/USD

EUR/USD 1.5712

EUR/USD Open 1.5789 High 1.5900 Low 1.5675 Close 1.5695

The Euro dropped significantly yesterday against the US Dollar from yesterday's top 1.5898 to today's bottom 1.5675 on the US Unemployment Claims, Rates, and Nonfarm Employment Change announcements, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5630, followed by 1.5560. In upward direction next resistance for today is expected at 1.5950, the break of which would lead to next target 1.6000.

Technical resistance levels: 1.5900 1.5950 1.6000
Technical support levels: 1.5675 1.5630 1.5560

Trading range: 1.5700 - 1.5765

Trend: Upward

Buy at 1.5712 SL 1.5682 TP 1.5752

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