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Free AccessExtends This Week’s Gains
- RES 4: 1.1076 High Apr 1
- RES 3: 1.1026 50-day EMA
- RES 2: 1.0989 High Apr 5
- RES 1: 1.0936 High Apr 21
- PRICE: 1.0871 @ 15:37 BST Apr 21
- SUP 1: 1.0824/0758 Intraday low / Low Apr 14 and the bear trigger
- SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
- SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
- SUP 4: 1.0636 Low March 23 2020
EURUSD traded firmer Thursday as it extends this week’s recovery. Price action has traded through resistance at 1.0904, the 20-day EMA. This is a positive short-term development and suggests potential for an extension higher near-term, potentially towards the 50-day EMA, at 1.1026. Short-term gains are still considered corrective and the 50-day EMA represents the next key resistance point. The bear trigger is 1.0758, the Apr 14 low.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.