Free Trial

Bearish Outlook

EURUSD TECHS
  • RES 4: 1.0981 High Mar 8 and the bull trigger
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0921 76.4% retracement of the Mar 8 - Apr 2 bear leg
  • RES 1: 1.0818/85 20-day EMA / High Apr 09
  • PRICE: 1.0713 @ 05:50 BST Apr 12
  • SUP 1: 1.0699 Low Apr 11
  • SUP 2: 1.0695 Low Feb 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10 ‘23
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull rally

EURUSD traded down again Thursday. The break lower this week reinstates a short-term bearish threat and signals the end of the recent recovery between Apr 2 - 9. Attention is on key support at 1.0695, the Feb 14 low and bear trigger. Clearance of this level would strengthen a bearish theme and open 1.0656, the Nov 10 ‘23 low. Initial key resistance has been defined at 1.0885, the Apr 9 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.