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Key Support Remains Intact

EURUSD TECHS
  • RES 4: 1.1222 61.8% of Feb 10 - Mar 7 sell-off
  • RES 3: 1.1185/1226 High Mar 31 / 3.0% Upper Bollinger Band
  • RES 2: 1.1091 50-day EMA
  • RES 1: 1.0985 20-day EMA
  • PRICE: 1.0872 @ 16:03 BST Apr 12
  • SUP 1: 1.0837 Low Mar 8
  • SUP 2: 1.0806 Low Mar 7 and the bear trigger
  • SUP 3: 1.0767 Low May 7 2020
  • SUP 4: 1.0727 Low Apr 24, 2020

EURUSD is trading closer to its recent lows and maintains a bearish theme. Sights are on the key support at 1.0806, Mar 7 low and the bear trigger. The recent failure at 1.1185, Mar 31 high, continues to highlight a bearish threat and last week’s move lower has reinforced this theme. A break of 1.0806 would confirm a resumption of the downtrend and open 1.0767, the May 7 2020 low. Clearance of 1.1185 is needed to reinstate a bull theme.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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