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Bounce Extends

EURUSD TECHS
  • RES 4: 1.0981 High Mar 8 and the bull trigger
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0883 61.8% retracement of the Mar 8 - Apr 2 bear leg
  • RES 1: 1.0877 Intraday high
  • PRICE: 1.0873 @ 14:55 GMT Apr 4
  • SUP 1: 1.0832/0725 20-day EMA / Low Apr 2
  • SUP 2: 1.0695 Low Feb 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull rally

EURUSD traded sharply higher yesterday and has remained firm today. Today’s gains have resulted in a break of resistance at 1.0864, the Mar 26 high. This has improved conditions for bulls, highlighting a break of both the 20- and 50-day EMAs and signals scope for an extension towards 1.0943, the Mar 21 high. Key support lies at 1.0695, Feb 14 low and bear trigger. A break of it would confirm a resumption of the bear leg that started on Dec 28.

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  • RES 4: 1.0981 High Mar 8 and the bull trigger
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0883 61.8% retracement of the Mar 8 - Apr 2 bear leg
  • RES 1: 1.0877 Intraday high
  • PRICE: 1.0873 @ 14:55 GMT Apr 4
  • SUP 1: 1.0832/0725 20-day EMA / Low Apr 2
  • SUP 2: 1.0695 Low Feb 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull rally

EURUSD traded sharply higher yesterday and has remained firm today. Today’s gains have resulted in a break of resistance at 1.0864, the Mar 26 high. This has improved conditions for bulls, highlighting a break of both the 20- and 50-day EMAs and signals scope for an extension towards 1.0943, the Mar 21 high. Key support lies at 1.0695, Feb 14 low and bear trigger. A break of it would confirm a resumption of the bear leg that started on Dec 28.