EURUSD Chart by TradingView
What can we expect from EURUSD for the new week and what happened on Friday?
EURUSD on Friday dropped -0.15% to 1.09014. Price is above 9-Day EMA while Stochastic is rising. For the week ending 2023-04-07, the pair rose 0.58% or 63.3 pips higher.
Looking ahead on Monday, EURUSD looks mixed as the pair is likely to consolidate above week low of 1.07870.
For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 1.09733 or at least consolidates above Weekly Pivot level of 1.08872. On the downside, we are looking at week low 1.07870 or 1.08012 (WS1) as immediate support level. EURUSD need to break on either side to indicate a short-term bias. A break above 1.09733 would suggest bullish bias after recent positive movement.
For the month of April, EURUSD is up by 0.58% or 63.3 pips higher.
Weekly key levels to watch out:
| R3 | 1.11738 |
| R2 | 1.10735 |
| R1 | 1.09875 |
| Weekly Pivot | 1.08872 |
| S1 | 1.08012 |
| S2 | 1.07009 |
| S3 | 1.06149 |
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