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Remains Vulnerable

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 and a key resistance
  • RES 3: 1.1076 High Apr 1
  • RES 2: 1.0998 50-day EMA
  • RES 1: 1.0870/0936 20-day EMA / High Apr 21
  • PRICE: 1.0727 @ 06:12 BST Apr 26
  • SUP 1: 1.0697 Low Apr 25
  • SUP 2: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • SUP 3: 1.0636 Low March 23 2020
  • SUP 4: 1.0496 0.764 proj of the Feb 10 - Mar 7 - 31 price swing

The EURUSD downtrend remains intact. The pair traded lower Monday, clearing support at 1.0758, the Apr 14 low and a short-term bear trigger. This confirmed a resumption of the downtrend and an extension of the bearish price sequence of lower lows and lower highs. 1.0727 has also given way, the Apr 24 2020 low and this signals scope for a move towards 1.0636 next, the Mar 23 2020 low and the next major support. 1.0936 is key trend resistance.

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