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Bullish Outlook Remains Intact

EURUSD TECHS
  • RES 4: 1.0851 High Apr 25
  • RES 3: 1.0816 2.0% 10-dma envelope
  • RES 2: 1.0787 High May 30 and a key resistance
  • RES 1: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • PRICE: 1.0620 @ 19:03 GMT Dec 28
  • SUP 1: 1.0549 20-day EMA
  • SUP 2: 1.0528 Low Dec 13
  • SUP 3: 1.0443 Low Dec 7 and a key short-term support
  • SUP 4: 1.0368 50-day EMA

EURUSD remains in consolidation mode. The latest pullback is considered corrective. The recent break higher confirmed a resumption of the uptrend and maintains the price sequence of higher highs and higher lows. Sights are on 1.0736, a Fibonacci projection. On the downside, key short-term support to watch is at 1.0443, Dec 7 low, where a break would signal a short-term top. Initial support is 1.0549, the 20-day EMA.

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