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Key Short-Term Support Remains Exposed

EURUSD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange News
  • RES 4: 1.0836 61.8% retracement of the Feb 2 - Mar 8 bear leg
  • RES 3: 1.0803 High Feb 14 and key resistance
  • RES 2: 1.0775 50.0% retracement of the Feb 2 - Mar 15 bear leg
  • RES 1: 1.0651/0760 50-day EMA / High Mar 15 and the bull trigger
  • PRICE: 1.0618 @ 16:40 GMT Mar 16
  • SUP 1: 1.0516 Low Mar 15
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0439 Trendline support drawn from the Sep 28 2022 low
  • SUP 4: 1.0394 Low Dec 1

EURUSD traded sharply lower Wednesday. The pair did pierce key short-term support at 1.0525, the Mar 8 low. A clear break of this level is required to reinstate a bearish theme that would open 1.0484, the Jan 6 low and 1.0439, a trendline support drawn from the Sep 28 2022 low. Yesterday’s high of 1.0760 marks a key short-term resistance - a break of this level is required to reinstate a bullish theme.

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  • RES 4: 1.0836 61.8% retracement of the Feb 2 - Mar 8 bear leg
  • RES 3: 1.0803 High Feb 14 and key resistance
  • RES 2: 1.0775 50.0% retracement of the Feb 2 - Mar 15 bear leg
  • RES 1: 1.0651/0760 50-day EMA / High Mar 15 and the bull trigger
  • PRICE: 1.0618 @ 16:40 GMT Mar 16
  • SUP 1: 1.0516 Low Mar 15
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0439 Trendline support drawn from the Sep 28 2022 low
  • SUP 4: 1.0394 Low Dec 1

EURUSD traded sharply lower Wednesday. The pair did pierce key short-term support at 1.0525, the Mar 8 low. A clear break of this level is required to reinstate a bearish theme that would open 1.0484, the Jan 6 low and 1.0439, a trendline support drawn from the Sep 28 2022 low. Yesterday’s high of 1.0760 marks a key short-term resistance - a break of this level is required to reinstate a bullish theme.