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Approaching Key Support

EURUSD TECHS
  • RES 4: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 3: 1.1858 1.0% 10-dma envelope
  • RES 2: 1.1846 High Sep 14
  • RES 1: 1.1755/95 High Sep 22 / 50-day EMA
  • PRICE: 1.1684 @ 06:08 BST Sep 29
  • SUP 1: 1.1664 Low Aug 20 and the bear trigger
  • SUP 2: 1.1621 1.00 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 3: 1.1603 Low Nov 4, 2020
  • SUP 4: 1.1581 Low Jul 24, 2020

EURUSD, remains bearish and traded lower yesterday. The pair is approaching key support at 1.1664, Aug 20 low and the bear trigger. A break of this support would confirm a resumption of the broader downtrend that has been in place since May 25 and open 1.1621 initially, a Fibonacci projection. Resistance is at 1.1755, Sep 22 high. Clearance of this level is required to signal a short-term base.

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