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Gains Stall Ahead Of The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.11232 61.8% retracement of the Feb 10 - Mar 7 bear leg
  • RES 3: 1.1165 1.0% 10-dma envelope
  • RES 2: 1.1138 20-day EMA
  • RES 1: 1.1121 Low Jan 28/Mar 10 and recent breakout level
  • PRICE: 1.1005 @ 06:15 GMT Mar 11
  • SUP 1: 1.0890/06 Low Mar 9 / Low Mar 7 and the bear trigger
  • SUP 2: 1.0767 Low May 7 2020
  • SUP 3: 1.0727 Low Apr 24, 2020
  • SUP 4: 1.0654 2.50 proj of the Jan - Mar - May 2021 price swing

EURUSD traded higher Thursday touching 1.1121 - the Jan 28 low and recent breakout level flagged earlier in the week. With resistance holding here, bulls will look for a clear break above 1.1121 to signal scope for a test of 1.1138 - the 20-day EMA and an important resistance, as well as the vol-band resistance of 1.1165. The Wednesday low at 1.0890 marks first support ahead of the cycle low at 1.0806.

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