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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: 1.1904 @ 16:34 GMT Mar 19
  • SUP 1: 1.1874 Low Mar 19
  • 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 extended further Friday. 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.

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