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Fresh Trend High

EURUSD TECHS
  • RES 4: 1.0774 High Jun 9
  • RES 3: 1.0736 2.382 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 2: 1.0668 2.236 proj of the Sep 28 - Oct 4 - 13 price swing
  • RES 1: 1.0649 Intraday high
  • PRICE: 1.0627 @ 13:35 GMT Dec 13
  • SUP 1: 1.0506/0443 Low Dec 12 / 7 and a key short-term support
  • SUP 2: 1.0402/0291 20-day EMA / Low Nov 30
  • SUP 3: 1.0227 50-day EMA
  • SUP 4: 1.0223 Low Nov 21

EURUSD has traded higher and in the process, the pair has breached resistance at 1.0595, the Dec 5 high. The break higher confirms a resumption of the uptrend and also cancels the recent bearish candle pattern - a shooting star. The climb sets the scene for 1.0668 next, a Fibonacci projection. On the downside, key short-term support has been defined at 1.0443, Dec 7 low, where a break would signal a short-term top.

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