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Extends This Week’s Decline

  • RES 4: 1.1692 High Oct 28, 2021
  • RES 3: 1.1608 High Nov 9
  • RES 2: 1.1483/1514 High Jan 14/ Low Nov 5
  • RES 1: 1.1421 High Jan 18
  • PRICE: 1.1314 @ 20:00 GMT Jan 20
  • SUP 1: 1.1312 Low Jan 20
  • SUP 2: 1.1272 Low Jan 04
  • SUP 3: 1.1260/22 1.0% 10-dma envelope / Low Dec 15
  • SUP 4: 1.1186/85 Low Nov 24 / Low Jul 1, 2020 and the bear trigger

EURUSD traded lower Thursday and maintains this week’s bearish pressure. Price is below both the 20- and 50-day EMAs and this week’s price action threatens the recent bullish theme to suggest that at this stage, that last week’s range and bear channel breakout appear to have been a false one and has failed to deliver a bullish reversal. Further downside would expose 1.1272, Jan 4 low. Key resistance is at 1.1483, Jan 14 high.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

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