EURUSD can be expected to rise further to the next resistance level 1.1830 (former resistance from the end of February and the target price for the completion of the active intermediate impulse wave (C)).
- EURUSD broke resistance zone
- Likely to rise to resistance level 1.1830
EURUSD currency pair recently broke the resistance zone between the resistance level 1.1630 (which has been reversing the price from the start of March, as can be seen from the daily EURUSD chart below) and the 38.2% Fibonacci correction of the previous sharp downward impulse from the start of February. The breakout of this resistance zone accelerated the active impulse wave 1, which belongs to intermediate impulse wave (C) of the primary upward ABC correction 2 from the start of March.
Given the strength of the bearish US dollar sentiment affecting this currency pair, EURUSD can be expected to rise further to the next resistance level 1.1830 (former resistance from the end of February and the target price for the completion of the active intermediate impulse wave (C)).
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