EURUSD Technical Analysis – April 12, 2021

The EURO and USD rose on Friday. The technical bias remains bullish due to higher lows in the recent uptrend.

The EURO and USD is currently trading near 1.18970, multiple resistance can be found above the price, which may prevent the price from rising further.

  • Resistance Level 1: 1.19300
  • Resistance Level 2: 1.19900
  • Resistance Level 3: 1.20500

Multiple support levels can be found below the price, which may help the price stay above these levels.

  • Support Level 1: 1.18600
  • Support Level 2: 1.18050
  • Support Level 3: 1.17370

In terms of data, Eurozone will announce its February retail sales data on Monday. Retail sales is an important reference to reflect the level of consumption and is an important indicator of whether the economy is expanding. Higher data will favor EURO, so it is bullish for the Euro – USD currency pair, and vice versa.

Given the current price trends and economic development, buying the EURO and USD currency pairs near the current level may be a good trading choice.