EURUSD Technical Analysis – June 8, 2021

EURUSD rose on Monday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 1.21915, multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 1.22100
  • Resistance level 2: 1.22400
  • Resistance level 3: 1.22650

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

  • Support level 1: 1.21720
  • Support level 2: 1.21500
  • Support level 3: 1.21050

Eurozone will announce the GDP data for the first quarter today. Higher data will indicate favorable for Euro, so it is bullish for the EURUSD currency pair, and vice versa.

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