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Holding Onto Gains

  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2353 High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2243 High Feb 25 and a key resistance
  • PRICE: 1.2231 @ 05:48 BST May 19
  • SUP 1: 1.2126 Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2032 50-day EMA
  • SUP 4: 1.1986 Low May 5 and key short-term support

The EURUSD outlook remains bullish following the recovery last week from 1.2052, May 13 low. The pair rallied Tuesday and cleared former resistance at 1.2182, May 11 high. With 1.2200 cleared and the pair holding onto gains, the focus turns to key resistance at 1.2243, Feb 25 high and a bull trigger. A break would open 1.2285, Jan 8 high. On the downside, key short-term support has been defined at 1.2052, May 13 low.

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MNI London Bureau | +44 203-586-3805 |

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