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Bullish Theme Remains Intact

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1076 High Apr 1 2022
  • RES 2: 1.1033 High Feb 2 and key resistance
  • RES 1: 1.0924/0973 High Apr 7 / 4
  • PRICE: 1.0884 @ 05:33 BST Apr 11
  • SUP 1: 1.0831 Low Apr 10
  • SUP 2: 1.0825/0788 20-day EMA / Low Apr 3
  • SUP 3: 1.0749 50-day EMA
  • SUP 4: 1.0631 Low Mar 20

EURUSD maintains a bullish tone despite the recent pullback . Price has breached resistance at 1.0930, the Mar 23 high. This level marked a key short-term hurdle for bulls and the clear break reinstates the recent bull theme and signals scope for 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0825, the 20-day EMA and 1.0749 the 50-day EMA. A clear break of this support zone would be bearish.

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