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  • RES 4: 1.1821 High Sep 16
  • RES 3: 1.1742/55 Bear channel from Jun 1 high / High Sep 22
  • RES 2: 1.1701 50-day EMA
  • RES 1: 1.1669 High Oct 19
  • PRICE: 1.1644 @ 15:36 BST Oct 20
  • 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: 1.1402 Bear channel base drawn from the Jun 1 high

EURUSD traded higher Tuesday and held its ground throughout Wednesday trade, resuming the recovery that started Oct 13. The pair has also moved above its 20-day EMA and the break of this average signals scope for a stronger short-term corrective bounce that has opened the 50-day EMA at 1.1701. Broader trend conditions remain bearish though and current gains are considered corrective. A resumption of weakness would open the key support and bear trigger at 1.1524.