FX.co ★ Elliott wave analysis of EUR/USD for March 29, 2023

EUR/USD has rallied nicely of the 50% corrective target at 1.0723 and is currently testing short-term important resistance at 1.0840. A clear break above here will confirm that the correction from 1.0930 is complete and a new impulsive rally towards at least 1.1248 and possibly 1.1424 is in motion.

Short-term we see support at 1.0806 that ideally will protect the downside for the expected break above resistance at 1.0840.