EURUSD analysis 13.04.2020

Major currency pairs show quiet and weak trading with the opening of the week, due to the impact of the financial markets holiday, and therefore, the scenarios proposed in last Friday's report will remain intact.

 As the EURUSD pair continues to rise to the outskirts of the 1.0966 level, and it moves within an intraday bullish channel that may bear the price to breach the mentioned level and then return to the bullish corrective path, especially as the EMA50 provides positive support for the price.

Noting that breaching 1.0966 will push the price to visit the 1.1067 level as a next positive target, while breaking 1.0840 will reactivate the bearish trend scenario whose next targets are located at 1.0700 then 1.0640.

The expected trading range for today is between 1.0840 support and 1.1040 resistance.