EURUSD Technical Analysis – May 18, 2021

EURUSD rose on Monday, as it made higher highs in the recent uptrend, the technical bias is bullish.

The pair is currently trading around 1.21550, and multiple resistance levels can be seen above, which may prevent the price from rising further.

  • Resistance level 1: 1.21850
  • Resistance level 2: 1.22450
  • Resistance level 3: 1.22750

Below the price, multiple support levels can be found, which can help the price stay above that level.

  • Support level 1: 1.21450
  • Support level 2: 1.21250
  • Support level 3: 1.20950

The European Union will announce the GDP data for the first quarter of 2021 on today. Higher GDP data will be favorable to Euro, so it is bullish for the EURUSD currency pair, and vice versa.

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