FX.co ★ April 20, 2023 : Analyzing Recent Trends and Trading Opportunities in EUR/USD: A Technical Analysis Perspective.

After ascending towards the 1.1500 price zone, the EUR/USD pair faced substantial selling pressure, causing it to fall to levels of 1.0850, 1.0400, 1.0000, and most recently, 0.9600.

The market was under buying pressure until it reached a plateau around 1.0800-1.0850, after which notable selling pressure led to a recent price decline.

The price level of 1.0930 acted as a significant resistance level, offering selling opportunities until the recent temporary upside movement extended up to 1.1000.

As a result, the current price level of 1.1000 should be closely observed for price action and any potential selling pressure.

Conversely, any downward movement towards 1.0600 should be monitored for buying pressure, as it could lead to another upward movement.