EUR/USD analysis for April 02 2021 - Potential for the downside rotation towards the 1.1715

Fed's Daly: We aren't projecting hitting either Fed goal in 2021Comments from the San Francisco Fed President on Fox BusinessWe will keep policy accommodativeExpects temporary rise in inflation this year, will look through thatThis is nothing new.Further Development


Analyzing the current trading chart of EUR/USD, I found that the buyers got exhausted today and the downside roattion would be probably to correct strong upside movement from recent day.

My advice is to watch for selling opportunities on the rallies with the downside targets at 1.1715 and 1.1700....

Stochastic oscillator is overbought, which is another sign of weakness... Key Levels:Resistance: 1.1795Support levels: 1.1715 and 1.1700....

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