FX.co ★ April 17, 2023 : EUR/USD Intraday technical analysis and trading plan.

The EUR/USD pair has recently revisited price levels around 0.9600 that were last seen in 2002, leading to significant bullish recovery, especially around this significant support level.

Despite the nearest supply level at 1.0100 not exerting enough bearish pressure, intensive bullish price action was seen around the lower limit of the depicted movement channel, resulting in the attainment of successive bullish targets around 1.0250, 1.0500 and 1.0600.

The price action around the key level of 1.0550-1.0600 was also bullish, leading to further bullish continuation towards 1.0800.

Additionally, there is a possibility of further bullish advancement towards the nearest supply zone around 1.1150-1.1200.

Conversely, any bearish pullback towards the price levels of 1.0000 should be considered a valid long-term buying opportunity.