EURUSD Technical Analysis – June 7, 2021

EURUSD bottomed out and rebounded on Friday. The technical bias is bullish due to higher highs after rising.

The pair is currently trading near 1.21716, multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 1.22050
  • Resistance level 2: 1.22400
  • Resistance level 3: 1.22650

Below the price, multiple support levels can be found which may prevent the price from falling.

  • Support level 1: 1.21350
  • Support level 2: 1.21050
  • Support level 3: 1.20680

The European Central Bank will announce the June interest rate decision this Thursday. Higher data will be favorable for Euro, so it is bullish for the Euro and USD currency pair, and vice versa.

Looking at the price trend and economic development, it may be a good trading choice to buy the pair near the current level.