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Free AccessEURUSD TECHS: Watching Support The 50-Day EMA
- RES 4: 1.1276 High Jul 18 2023
- RES 3: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
- RES 2: 1.1155/1202 High Sep 6 / High Aug 26 and the bull trigger
- RES 1: 1.1091 High Sep 9
- PRICE: 1.1084 @ 06:06 BST Sep 13
- SUP 1: 1.1002 Low Sep 11
- SUP 2: 1.0980 50-day EMA
- SUP 3: 1.0940 61.8% retracement of the Aug 1 - 26 bull leg
- SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg
EURUSD has recovered from this week’s lows. Despite these gains, a bearish corrective theme remains intact - for now. The move lower this week resulted in a breach of support at 1.1026, the Sep 3 low. A clear break of this level would signal scope for a deeper correction towards the 50-day EMA, at 1.0984 - a key support. Key short-term resistance is at 1.1155, the Sep 6 high. A break of it would be bullish.
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Why MNI
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