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Bullish Focus

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2266 High May 25
  • PRICE: 1.2196 @ 16:19 BST May 27
  • SUP 1: 1.2160/26 Low May 19 / Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2070 50-day EMA
  • SUP 4: 1.1986 Low May 5 and key short-term support

EURUSD faced selling pressure Wednesday before trading flat into the Thursday close. Despite the pullback, the pair is still trading within its recent range and the outlook remains bullish. The recent breach of 1.2245, May 19 high strengthens the positive theme and opens 1.2285, Jan 8 high. Further out, the 2021 high of 1.2349, Jan 6 high beckons. On the downside, key short-term support has been defined at 1.2052, May 13 low while initial support remains 1.2160, the May 19 low.

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