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Bullish Theme Intact

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2353 High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2245 High May 19
  • PRICE: 1.2185 @ 06:15 BST May 24
  • SUP 1: 1.2126 Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2051 50-day EMA
  • SUP 4: 1.1986 Low May 5 and key short-term support

EURUSD traded lower Friday and remains below recent highs. The outlook remains bullish following last week's gains and high print of 1.2245. Clearance of this level would confirm a resumption of strength and open 1.2285, Jan 8 high. On the downside, key short-term support has been defined at 1.2052, May 13 low while initial support is at 1.2126, the May 17 low. A break of 1.2052 would signal a top.

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