EURUSD has experienced sharp declines over the past two days. Looking at the H4 interval, we can see that the pair has reached the key support near 1.2100 handle. This level is marked with the lower limit of 1:1 structure and 50% Fibonacci retracement of the recent upward impulse. Should buyers manage to hold the price above this support, another upward impulse could be launched.On the other hand, breaking below 1.21 could pave the way for more declines. The next support to watch can be found at 1.2030.
EURUSD H4 interval. Source: xStation5
This content has been created by X-Trade Brokers Dom Maklerski S.A. This service is provided by X-Trade Brokers Dom Maklerski S.A. (X-Trade Brokers Brokerage House joint-stock company), with its registered office in Warsaw, at Ogrodowa 58, 00-876 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. X-Trade Brokers Dom Maklerski S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.