Free Trial

Clears Support

EURUSD TECHS
  • RES 4: 1.2067 High Mar 4
  • RES 3: 1.2040 50-day EMA
  • RES 2: 1.1989/90 High Mar 18 / 11 and the short-term bull trigger
  • RES 1: 1.1937 High Mar 19
  • PRICE: 1.1882 @ 13:54 GMT Mar 19
  • SUP 1: 1.1874 Intraday low
  • SUP 2: 1.1851/36 200-DMA / Low Mar 9 and the bear trigger
  • SUP 3: 1.1800 Low Nov 23
  • SUP 4: 1.1752 1.236 proj of the Jan 6 - Feb 5 - Feb 25 price swing

EURUSD weakness is extending once again today. The pair has cleared initial support at 1.1883, Mar 16 low. This negates the bullish engulfing candle Wednesday that signalled scope for a move higher. Instead, the sell-off exposes key support at 1.1836, Mar 9 low. Note, the 200-day MA lies just above at 1.1851. A break of 1.1836 would confirm a resumption of this year's downtrend and open 1.1800. Key resistance is at 1.1990, Mar 11 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.