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Approaching Key Support

EURUSD TECHS
  • RES 4: 1.1608 High Nov 9, 2021
  • RES 3: 1.1558 38.2% retracement of the May ‘21 - Jan 28 sell-off
  • RES 2: 1.1396/1.1495 High Feb 16 / High Feb 10
  • RES 1: 1.1280/1313 Low Feb 14 / Intraday high
  • PRICE: 1.1139 @ 15:13 GMT Feb 24
  • SUP 1: 1.1121 Low Jan 28 and the bear trigger
  • SUP 2: 1.1168 Low Jun 19 2020
  • SUP 3: 1.1115 Low Jun 2 2020
  • SUP 4: 1.1070 Low May 29, 2020

EURUSD remains vulnerable and traded sharply lower today clearing support at; 1.1280, the Feb 14 low and 1.1209, the 76.4% retracement of the recent Jan 28 - Feb 10 upleg. The breach of the latter support strengthens the bearish threat and has paved the way for a sell-off towards key support at 1.1121, the Jan 28 low and a bear trigger. A firm short-term resistance has been defined at 1.1280, the Feb 14 low.

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