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Fades into Friday Close

EURUSD TECHS
  • 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 | edward.hardy@marketnews.com

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