EURUSD Daily Forecast: April 06

EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.2217 after broke below the rising wedge formation as you can see on my H4 chart below. The bias is bearish in nearest term testing 1.2175 key support area which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2280 area. A clear break above that area could lead price to neutral zone in nearest term retesting the support line of the rising wedge and 1.2320 area. My major bullish outlook remains valid but price has been moving back and forth inside a 360-pip range area between 1.2537 – 1.2175 for 11 weeks now. A clear break and daily close below 1.2175 would invalidate my major bullish outlook.