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EURUSD TECHS
  • RES 4: 1.1483/1514 High Jan 14 and key resistance / Low Nov 5
  • RES 3: 1.1381/1421 Bear channel top / High Jan 18
  • RES 2: 1.1333 20-day EMA
  • RES 1: 1.1243 Intraday high
  • PRICE: 1.1145 @ 17:18 GMT Jan 27
  • SUP 1: 1.1128 1.764 proj of the Jan - Mar - May 2021 price swing
  • SUP 2: 1.1070 Low May 29, 2020
  • SUP 3: 1.1031 Bear channel base drawn from the Jun 1 2021 high
  • SUP 4: 1.0976 2.00 proj of the Jan - Mar - May 2021 price swing

EURUSD is sharply lower again Thursday and has cleared key support at 1.1186/85, the Nov 24 and Jul 1 2020 lows. This confirms a resumption of the broader downtrend that started on Jan 6, 2021 and paves the way for weakness towards 1.1128 next, a Fibonacci projection. Note that despite trading outside of the ranges recently, EURUSD remains in a bear channel. The base lies at 1.1031 Thursday. The channel is drawn from the Jun 1 2021 high.

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

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