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Maintains This Week's Softer Tone

EURUSD TECHS
  • RES 4: 1.2113 High Mar 3
  • RES 3: 1.2067 High Mar 4
  • RES 2: 1.1999 20-day EMA
  • RES 1: 1.1990 High Mar 11
  • PRICE: 1.1900 @ 05:46 GMT Mar 17
  • SUP 1: 1.1869 Low Mar 10
  • SUP 2: 1.1845/36 200-DMA / Low Mar 9 and the bear trigger
  • SUP 3: 1.1800 Low Nov 23
  • SUP 4: 1.1752 1.236 proj of the Jan 6 - Feb 5 - Feb 25 price swing

EURUSD maintains this week's slightly softer tone and the pair remains below resistance at 1.1990, Mar 11 high. Last week's gains resulted in a break of 1.1952, Feb 25 high and this suggests scope for an extension higher near-term. A breach of 1.1990 would open the 20-day EMA at 1.1999 and 1.2069, the Mar 4 high. From a broader trend perspective, a downtrend remains intact. A break of 1.1836, Mar 9 low, would resume this trend.

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