FX.co ★ Technical analysis of EUR/USD for March 08, 2022

A general review :

The EUR/USD pair followed a strong bearish channel below the price of 1.0969 for that this pair extends decline.

The Fiber started a major decline after it failed to clear 1.0969 against the US Dollar.

The EUR/USD pair traded below the 1.0969 resistance to enter a bearish zone. Euro currency down 5%.

Investors and traders are looking at the EUR/USD, because the pair extended set down below the resistance levels of 1.0969 and 1.1019. Conversely, US dollar price rallied against baskets of pairs.

RSI is seeing major resistance below 50% where a corresponding reaction could occur. So, the RSI is still calling for a strong bullish market as well as the current price is also above the moving average 100.

According to the previous events the price is expected to remain between 1.0969 and 1.0750 levels.

The descending movement is likely to begin from the level 1.0969 with 1.0806 and 1.0750 seen as targets.

Intraday technical levels

• Date : March 08, 2022
• Pair : EUR/USD
• Current High 1.1223
• Current Low 1.0806
• Range = 417 pips

Resistance 3 : 1.1139

Resistance 2 : 1.1070

Resistance 1 : 1.1019

Pivot Point : 1.0969

Support 1 : 1.0806

Support 2 : 1.0750

Support 3 : 1.0700