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Support Line On Bund Can Cause Pullback For EURUSD

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April 21 2021

The USD is seeing some recovery as stock market comes down where more expected weakness in the near term means that EURUSD correction can be deeper ahead of ECB tomorrow. From a technical perspective we still see bunds at the trendline support which is another reason for a pullback on EURUSD, as warned yesterday on twitter here. Pullback is normal for the EURUSD as rally from April low is seen in five waves; so it's a pause on the way up it seems. Support is at 1.1940 and at the trendline.




 

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