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Key S/T Resistance Remains Intact

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: 1.0595/0615 High Dec 5 and bull trigger / High Jun 27
  • PRICE: 1.0522 @ 15:21 GMT Dec 9
  • SUP 1: 1.0443 Low Dec 7
  • SUP 2: 1.0387/0291 20-day EMA / Low Nov 30
  • SUP 3: 1.0223 Low Nov 21
  • SUP 4: 1.0214 50-day EMA

EURUSD continues to trade closer to its recent highs but has pulled back from the Friday high and this leaves resistance at 1.0595 intact, Dec 5 high. A break of this hurdle is required to confirm a resumption of the uptrend and open 1.0615, the Jun 27 high. Note that while price remains below 1.0595, a bear candle on Dec 5 - shooting star - continues to highlight a possible short-term bearish threat. A reversal would open 1.0387, the 20-day EMA.

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