Free Trial

Clears The 50-Day EMA

EURUSD TECHS
  • RES 4: 1.2116 76.4% retracement of the Feb 25 - Mar 31 sell-off
  • RES 3: 1.2086 2.0% 10-dma envelope
  • RES 2: 1.2037 61.8% retracement of the Feb 25 - Mar 31 sell-off
  • RES 1: 1.1990 High Mar 11 and a key resistance
  • PRICE: 1.1962 @ 06:00 BST Apr 14
  • SUP 1: 1.1861 Low Apr 7 and 8
  • SUP 2: 1.1795 Low Apr 6
  • SUP 3: 1.1738 Low Apr 5
  • SUP 4: 1.1704/1695 Low Mar 31 / 38.2% of the Mar 2020 - Jan rally

EURUSD traded higher yesterday extending the recent recovery that started Mar 31. Yesterday's gains resulted in a break of the 50-day EMA, strengthening a short-term bullish case and paving the way for a climb towards 1.1990, Mar 11 high and a key near-term resistance. A break would open 1.2037, a Fibonacci retracement. On the downside, initial support is seen at 1.1861, Apr 7 and 8 low.

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.