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Bear Threat Remains Present

EURUSD TECHS
  • RES 4: 1.1034 76.4% retracement of the Dec 28 - Feb 14 bear leg
  • RES 3: 1.0998 High Jan 5
  • RES 2: 1.0981 High Mar 8 and the bull trigger
  • RES 1: 1.0864/0943 20-day EMA / High Mar 21
  • PRICE: 1.0826 @ 05:58 GMT Mar 27
  • SUP 1: 1.0802 Low Mar 22 / 25 low
  • SUP 2: 1.0796 Low Feb 29
  • SUP 3: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 4: 1.0656 Low Nov 10

A bearish theme in EURUSD remains intact following the reversal from last Thursday’s high and short-term gains are considered corrective. Support at 1.0835, the Mar 19 low, has been breached. A continuation lower would open 1.0796, the Feb 29 low. Clearance of this level would strengthen a bearish theme. For bulls, a move above 1.0943, the Mar 21 high, is required to expose key resistance at 1.0981, the Mar 8 high.

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