EUR/USD outlook: EUR/USD hits the highest levels since late 2021 on fresh wave of risk aversion

Slobodan Drvenica Windsor Brokers

EUR/USD

EURUSD surged through 1.15 barrier and hit new multi-year high as effect from worsening fundamentals was boosted by a holiday-thinned market on Easter Monday.

The latest escalation of trade war further deflated dollar and provided more support to the single currency, which became replacement to the US currency in growing migration into safety.

Bulls eye round-figure barrier at 1.1600, November 2021 peak at 1.1616 and Fibo 76.4% of 1.2349/0.9535 downtrend at 1.1685, as technical picture remains bullish and deteriorating fundamentals continue to fuel advance.

The EURUSD is in strong bullish acceleration for the third consecutive month and on track for the biggest monthly gain in April since September 2010.

Res: 1.1573; 1.1600; 1.1616; 1.1685.
Sup: 1.1473; 1.1412; 1.1390; 1.1275.

Interested in EUR/USD technicals? Check out the key levels

1. R3 1.1429
2. R2 1.1413
3. R1 1.139
PP 1.1375
1. S1 1.1351
2. S2 1.1336
3. S3 1.1312

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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