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Bounce Holding Into Close

EURUSD TECHS
  • RES 4: 1.2243 High Feb 25 and a key resistance
  • RES 3: 1.2194 1.0% 10-dma envelope
  • RES 2: 1.2184 High Feb 26
  • RES 1: 1.2165 High May 7
  • PRICE: 1.2145 @ 17:44 BST May 7
  • SUP 1: 1.1992/86 50-day EMA / Low May 5
  • SUP 2: 1.1943 Low Apr 19
  • SUP 3: 1.1861 Low Apr 7 and 8
  • SUP 4: 1.1795 Low Apr 6

Near-term EURUSD strength firmed sharply Friday, with the pair rallying on the back of a poorer-than-expected NFP Headline. This counters recent bearish signals, particularly with the break above the April high at 1.2150. A close above here opens gains toward the Feb 26 high at 1.2184. Support undercuts at the 1.1992 50-day EMA which, if broken, opens losses toward the May 5 low of 1.1986.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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