Free Trial

Closer To Key Resistance

EURUSD TECHS
  • RES 4: 1.2223 High Jan 13
  • RES 3: 1.2190 High Jan 22 and a key resistance
  • RES 2: 1.2169 High Feb 16 and the bull trigger
  • RES 1: 1.2145 High Feb 19
  • PRICE: 1.2114 @ 19:41 GMT Feb 21
  • SUP 1: 1.2082 Low Feb 19
  • SUP 2: 1.2023 Low Feb 17
  • SUP 3: 1.1952 Low Feb 5 and the bear trigger
  • SUP 4: 1.1945 23.6% retracement March - Jan rally

EURUSD is holding onto Friday's gains having cleared resistance at 1.2110, Feb 17 high. Key resistance is located at 1.2169, Feb 16 high. A break of this level would confirm a resumption of the recovery from the Feb 5 low and open 1.2190 initially, Jan 22 high. Importantly too, a break higher would negate the bearish shooting candle pattern from Feb 16. The key S/T support is at 1.2023. A break would be bearish and expose 1.1952, Feb 5 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.