The data at the German inflation increased volatility on the FOREX market and reduced interest in hedging of currency risks have allowed the pair EUR/USD to update highs in 2016.
EUR/USD technical analysis and forecast on April 1
EUR/USD is traded near the level of 1.14, the relative strength indicator on the four-hour chart is testing the resistance level that signals the imminent end of the upward movement. As part of the FOREX forecast EUR/USD on 04.01.2016, it will be the test of upper boundary of the Trade channel in the area of 1.1440, where the decline in prices is expected. The upper limit is a good point for the euro for the purpose of selling in the area of 1.10, however it should be noted that the EUR/USD pair was traded in a bullish trend.
