Analysis and Forecast EUR / USD - Weekly review (18.04-22.04)

Currency pair after a recent decline from 1.1465 to 1.1234 level currently located in a local correction. From a technical point of view, the correction should not exceed the level of 1,1322-25. (The lower limit of consolidation, which coincides with the 38.2% fibo recent declines). Then the supply side should once again take the initiative and head towards the last lows at 1,1234-40. After breaking support supply may lead to a test of support at 1,1213-18 (maximum of March 10, which coincides with the 61.8% fibo increases from 0.8231 to 1.6038). The next support level is 1.1144. If there is a deepening decline further props will 1,1058-80 area.

The daily RSI indicates further declines.

Alternative variant involves breaking the resistance level at 1,1322-25 (euro-dollar exchange rate will return to the interior of consolidation).