Free Trial

Cracks 1.18, Opens Further Losses

EURUSD TECHS
  • RES 4: 1.2015 50-day EMA
  • RES 3: 1.1989/90 High Mar 18 / 11 and the short-term bull trigger
  • RES 2: 1.1947 High Mar 22
  • RES 1: 1.1853 High Mar 24
  • PRICE: 1.1783 @ 15:46 GMT Mar 25
  • SUP 1: 1.1781 Low Nov 23
  • SUP 2: 1.1752 1.236 proj of the Jan 6 - Feb 5 - Feb 25 price swing
  • SUP 3: 1.1746 Low Nov 11, 2020
  • SUP 4: 1.1711 Low Nov 5

EURUSD fell well below key support at 1.18 Thursday, accelerating losses below the level. This extends the recent downleg, opening support at 1.1752 and 1.1746 initially. Note, the 200-day MA has also this week been breached. This confirms a resumption of this year's downtrend and sets the scene for an extension lower. Initial firm resistance is at 1.1947, the Mar 22 high.

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.