Free Trial

Fades into Friday Close

  • RES 4: 1.2285/2304 High Jan 8 / 2.0% 10-dma envelope
  • RES 3: 1.2243 High Feb 25 and a key resistance
  • RES 2: 1.2184 High Feb 26
  • RES 1: 1.2150 High Apr 29
  • PRICE: 1.2031 @ 17:01 BST Apr 30
  • SUP 1: 1.2024 Low Apr 30
  • SUP 2: 1.1994/43 Low Apr 22 / Low Apr 19
  • SUP 3: 1.1861 Low Apr 7 and 8
  • SUP 4: 1.1795 Low Apr 6

EURUSD traded weaker into the Friday close, but maintains an over-arching bullish theme. This follows Wednesday's break of the bear channel top drawn off the Jan 6 high. The move higher confirms a resumption of the current uptrend and maintains a recovery towards 1.2184, Feb 26 high and the next key resistance at 1.2243, Feb 25 high. MA studies are again in a bull mode and this reinforces the bullish theme. Initial support lies at 1.1994, Apr 22 low.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.