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Clears Support

EURUSD TECHS
  • RES 4: 1.0943 High Mar 21
  • RES 3: 1.0921 76.4% retracement of the Mar 8 - Apr 2 bear leg
  • RES 2: 1.0818/85 20-day EMA / High Apr 09
  • RES 1: 1.0757 High Apr 11
  • PRICE: 1.677 @ 08:31 BST Apr 12
  • SUP 1: 1.0656 Low Nov 10 ‘23
  • SUP 2: 1.0611 76.4% retracement of the Oct - Dec bull rally
  • SUP 3: 1.0568 Low Nov 2 ‘23
  • SUP 4: 1.0517 Low Nov 1 ‘23

EURUSD is trading lower today as the pair extends this week’s bear cycle. The break lower this week reinstates a short-term bearish threat and confirms the end of the recent recovery between Apr 2 - 9. Key support at 1.0695, the Feb 14 low and bear trigger, has been cleared. The breach strengthens a bearish theme and opens 1.0656, the Nov 10 ‘23 low. Initial key resistance has been defined at 1.0885, the Apr 9 high.

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