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First Support Lies At The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1 2022
  • RES 3: 1.1033 High Feb 2 and key resistance
  • RES 2: 1.0940 High Feb 3
  • RES 1: 1.0839/0930 High Mar 24 / 23
  • PRICE: 1.0814 @ 05:44 GMT Mar 28
  • SUP 1: 1.0712 20-day EMA
  • SUP 2: 1.0680 50-day EMA
  • SUP 3: 1.0608 Low Mar 17
  • SUP 4: 1.0516 Low Mar 15 and the bear trigger

EURUSD is trading above last Friday’s low of 1.0713 and key short-term resistance at 1.0930, the Mar 23 high, remains intact. Attention is on support at 1.0712 (20-day EMA) and 1.0680 (50-day EMA). A break of this support zone would expose the recent low at 1.0516 on Mar 15. For bulls, clearance of 1.0930 would reinstate the recent bull theme and signal scope for a climb towards 1.1033, the Feb 2 high.

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