EURUSD Holds Above Parity
The EURUSD chart is consolidating near a potential reversal point, supported by the Relative Strength Index (RSI), which has rebounded from oversold levels seen in 2023. The 1.0170 level serves as a critical point for the EURUSD’s downtrend from September 2024 to January 2025.
Upside Potential:
If the euro holds above this level, it could climb toward 1.0520, 1.0620, and 1.0850, aligning with mid and upper border of the descending channel spanning from July 2023 to January 2025.
Downside Risks:
A break below 1.0170 could pave the way for parity at 1.0000, with further downside targeting the 0.99–0.98 zone. These levels align with the 1.618, 2, and 2.272 Fibonacci extension levels of the corrective pattern spanning between Jan 2023 and Jan 2025.
Razan Hilal, CMT
Upside Potential:
If the euro holds above this level, it could climb toward 1.0520, 1.0620, and 1.0850, aligning with mid and upper border of the descending channel spanning from July 2023 to January 2025.
Downside Risks:
A break below 1.0170 could pave the way for parity at 1.0000, with further downside targeting the 0.99–0.98 zone. These levels align with the 1.618, 2, and 2.272 Fibonacci extension levels of the corrective pattern spanning between Jan 2023 and Jan 2025.
Razan Hilal, CMT
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