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- RES 4: 1.1821 High Sep 16
- RES 3: 1.1731/55 Bear channel from Jun 1 high / High Sep 22
- RES 2: 1.1696 50-day EMA
- RES 1: 1.1669 High Oct 19
- PRICE: 1.1628 @ 06:09 BST Oct 22
- SUP 1: 1.1572/24 Low Oct 18 / Low Oct 12 and the bear trigger
- SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
- SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
- SUP 4: 1.1396 Bear channel base drawn from the Jun 1 high
EURUSD is consolidating. Price action this week resulted in a break of the 20-day EMA and this suggests scope for a stronger short-term corrective bounce towards the 50-day EMA at 1.1696. Note there is a key resistance at 1.1731, the top of a bear channel drawn from the Jun 1 high. Broader trend conditions remain bearish and short-term gains are considered corrective. Key support and the bear trigger is 1.1524.