EURUSD Key Technical Levels as on 16th May 2022

Since the dollar has gained strength, the EURUSD has been in a downward spiral.

It is at the bottom of the falling channel and will likely increase in the near future.

In the short term, there are two possibilities:

1. It rises to the first resistance zone of 1.0679-10770 before resuming its downward trend.

2. It rises to the next level of resistance between 1.0927 and 1.1000.

If it falls below the channel's bottom threshold, the next level to watch is 1.0255.

EURUSD Technical Levels on 16th May 2022