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Approaching First Support At The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1 2022
  • RES 3: 1.1033 High Feb 2 and key resistance
  • RES 2: 1.0940 High Feb 3
  • RES 1: 1.0926/0930 High Mar 30 and 31 / High Mar 23
  • PRICE: 1.0795 @ 05:41 BST Apr 3
  • SUP 1: 1.0788 Intraday low
  • SUP 2: 1.0761 20-day EMA
  • SUP 3: 1.0706 50-day EMA
  • SUP 4: 1.0631 Low Mar 20

EURUSD is starting the week on a softer note as the pair pulls away from last week’s 1.0926 high. Resistance at 1.0930 remains intact, Mar 23 high. This level represents a key short-term hurdle for bulls and a break would reinstate the recent bull theme and signal scope for a climb towards 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0761 (20-day EMA) and 1.0706 (50-day EMA). A move through this support zone would be bearish.

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