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Bearish Threat Remains Present

EURUSD TECHS
  • RES 4: 1.1280 Low Feb 14
  • RES 3: 1.1220/32 50-day EMA / 61.8% of Feb 10 - Mar 7 sell-off
  • RES 2: 1.1121 Low Jan 28/High Mar 10 and recent breakout level
  • RES 1: 1.1100 1.0% 10-dma envelope
  • PRICE: 1.0979 @ 06:15 GMT Mar 15
  • SUP 1: 1.0890/06 Low Mar 9 / Low Mar 7 and the bear trigger
  • SUP 2: 1.0767 Low May 7 2020
  • SUP 3: 1.0727 Low Apr 24, 2020
  • SUP 4: 1.0654 2.50 proj of the Jan - Mar - May 2021 price swing

EURUSD continues to trade below resistance at 1.1121 - the Jan 28 low, a recent breakout level plus the Mar 10 high. While this level holds, a bearish threat remains present and attention is on key support at 1.0806, Mar 7 low and the bear trigger. On the upside, a clear break of 1.1121 is required to signal scope for a stronger corrective rally that would open 1.1220, the 50-day EMA.

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