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Consolidation Mode

EURUSD TECHS
  • RES 4: 1.1608 High Nov 9
  • RES 3: 1.1514 Low Nov 5
  • RES 2: 1.1457 Bear channel top drawn from the Jun 1 high
  • RES 1: 1.1383/86 High Nov 30 / High Dec 31
  • PRICE: 1.1303 @ 16:46 GMT Jan 6
  • SUP 1: 1.1272/22 Low Jan 04 / Low Dec 15
  • SUP 2: 1.1186/85 Low Nov 24 / Low Jul 1, 2020 and the bear trigger
  • SUP 3: 1.1128 1.764 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1040 76.4% retracement of the Mar ‘20 - Jan ‘21 uptrend

EURUSD is unchanged and still in consolidation mode. This means resistance at 1.1383/86, the Nov 30 and Dec 31 high, remains intact and that the pair continues to trade inside December’s range. A resumption of weakness would expose support at 1.1222, the Dec 15 low. The bear trigger lies at the 1.1186/85 zone. For bulls, clearance of the 1.13783/86 resistance zone is required to suggest scope for a stronger short-term recovery.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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