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EURUSD TECHS: Trend Needle Points North

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletGlobalForeign Exchange BulletsRegionNorth America
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance  
  • RES 3: 1.1084  High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0954 @ 16:02 BST Aug 13
  • SUP 1: 1.0881 20-day EMA
  • SUP 2: 1.0844 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3 

EURUSD is trading above last Thursday’s low. A bull theme remains intact following recent gains and the breach of a key short-term resistance at 1.0948, Jul 17 high. The move higher confirmed a resumption of the uptrend and opens 1.1012 next, a Fibonacci retracement. Moving average studies are in a bull-mode set-up too, highlighting a rising trend. A pullback would be considered corrective. Initial support to watch lies at 1.0881, the 20-day EMA.  

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  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance  
  • RES 3: 1.1084  High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0954 @ 16:02 BST Aug 13
  • SUP 1: 1.0881 20-day EMA
  • SUP 2: 1.0844 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3 

EURUSD is trading above last Thursday’s low. A bull theme remains intact following recent gains and the breach of a key short-term resistance at 1.0948, Jul 17 high. The move higher confirmed a resumption of the uptrend and opens 1.1012 next, a Fibonacci retracement. Moving average studies are in a bull-mode set-up too, highlighting a rising trend. A pullback would be considered corrective. Initial support to watch lies at 1.0881, the 20-day EMA.