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Approaching 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: 1.0839/0930 High Mar 24 / 23
  • PRICE: 1.0781 @ 16:17 GMT Mar 27
  • SUP 1: 1.0703 20-day EMA
  • SUP 2: 1.0675 50-day EMA
  • SUP 3: 1.0608 Low Mar 17
  • SUP 4: 1.0516 Low Mar 15 and the bear trigger

EURUSD traded lower Friday and the pair remains below 1.0930, the Mar 23 high. Price has breached 1.0760, Mar 15 high and attention turns to support at 1.0703 (20-day EMA) and 1.0675 (50-day EMA). A break of this support zone would expose the recent low at 1.0516 on Mar 15. For bulls, clearance of 1.0930 would reinstate the recent bull theme and signal scope for a climb towards 1.1033, the Feb 2 high.

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