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Narrowing Gap With Support

EURUSD TECHS
  • RES 4: 1.1692 High Oct 28, 2021
  • RES 3: 1.1608 High Nov 9
  • RES 2: 1.1483/1514 High Jan 14 and key resistance / Low Nov 5
  • RES 1: 1.1421 High Jan 18
  • PRICE: 1.1244 @ 20:29 GMT Jan 26
  • SUP 1: 1.1238 Low Jan 26
  • SUP 2: 1.1235 1.0% 10-dma envelope
  • SUP 3: 1.1222 Low Dec 15
  • SUP 4: 1.1186/85 Low Nov 24 / Low Jul 1, 2020 and the bear trigger

EURUSD bearish threat firmed Wednesday, with the pair printing fresh 2022 lows alongside the Fed press conference. The bearish theme follows the recent break below both the 20- and 50-day EMAs and more importantly, a failure to strengthen following recent bullish technical developments - a range breakout and breach of a bear channel resistance earlier this month. Further downside would expose 1.1222, the Dec 15 low. Key resistance is unchanged at 1.1483, Jan 14 high.

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