FX.co - EUR/USD analysis for June 20, 2022 - Re-test phase in the background and potential for downside movement

2022-06-20T12:09:23

Relevance until2022-06-21

Technical analysis:

EUR/USD analysis for June 20, 2022 - Re-test phase in the background and potential for downside movement

EUR/USD has been trading sideways at the price of 1.0520. Anyway, I see Re-test in the background and potential for the downside movement.

Trading recommendation:

Due to the re-test of the lower trend-line in the background, I see potential for further downside movement.

Watch for the intraday rallies for the potential downside opportunities with the downside objectives at 1.0665 and 1.0370.

Key resistance is set at the price of 1.0600

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for June 20, 2022 - Re-test phase in the background and potential for downside movement