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Remains Vulnerable

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1
  • RES 3: 1.0998 50-day EMA
  • RES 2: 1.0848/0936 20-day EMA / High Apr 21
  • RES 1: 1.0758 Low Apr 14 and a recent breakout level
  • PRICE: 1.0653 @ 06:18 BST Apr 27
  • SUP 1: 1.0634 Intraday low
  • SUP 2: 1.0577 2.0% 10-dma envelope
  • SUP 3: 1.0494 Low Feb 22 2017
  • SUP 4: 1.0454 Low Jan 1 2017

The EURUSD downtrend remains intact and yesterday's resumption of weakness reinforces the bearish condition. The move lower also confirms an extension of the bearish price sequence of lower lows and lower highs, that defines a downtrend. A continuation lower is likely near-term and the focus is on 1.0577, the lower band of a moving average envelope. Key short-term resistance has been defined at 1.0936, the Apr 21 high.

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