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Extends February Recovery

EURUSD TECHS
  • RES 4: 1.2349 High Jan 6
  • RES 3: 1.2255 76.4% Jan - Feb Sell Off
  • RES 2: 1.2252 1.0% 10-dma Envelope
  • RES 1: 1.2243 High Feb 25
  • PRICE: 1.2231 @ 16:56 GMT Feb 25
  • SUP 1: 1.2082 Low Feb 19
  • SUP 2: 1.2023 Low Feb 17
  • SUP 3: 1.1952 Low Feb 5 and the bear trigger
  • SUP 4: 1.1945 23.6% retracement March - Jan rally

The pair hit new multi-week highs Thursday, rallying to touch 1.2243 on broad greenback weakness. This extends the recovery from the February lows and narrows the gap with key Fib resistance at 1.2255. A break above here opens the 2021 highs of 1.2349 - which marks a major level for the pair. The key short-term support is at 1.2023. A break would be bearish and expose 1.1952, Feb 5 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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