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Bearish Trend Conditions Intact

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1
  • RES 3: 1.1026 50-day EMA
  • RES 2: 1.0989 High Apr 5
  • RES 1: 1.0904 20-day EMA
  • PRICE: 1.0838 @ 06:04 BST Apr 21
  • SUP 1: 1.0758 Low Apr 14 and the bear trigger
  • SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
  • SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • SUP 4: 1.0636 Low March 23 2020

EURUSD traded higher Wednesday. Trend conditions remain bearish and short-term gains are considered corrective. Attention is on the recent low of 1.0758 (Apr 14). A break would confirm a resumption of the trend and pave the way for a move towards 1.0727, Apr 24 2020 low and the key 1.0636 level further out, Mar 23 2020 low. For bulls, clearance of 1.1185 is needed to highlight a base. Initial firm resistance is at 1.0904, the 20-day EMA.

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