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Pierces Key Resistance

  • RES 4: 1.1150 High Jul 27
  • RES 3: 1.1081 76.4% retracement of the Jul 18 - Oct 3 downleg
  • RES 2: 1.1065 High Aug 10
  • RES 1: 1.1021 Intraday high
  • PRICE: 1.1019 @ 10:45 GMT Dec 22
  • SUP 1: 1.0885/1.0817 20- and 50-day EMA values
  • SUP 2: 1.0724 Low Dec 8 and the bear trigger
  • SUP 3: 1.0693 Low Nov 14
  • SUP 4: 1.0665 61.8% retracement of the Oct 3 - Nov 29 rally

EURUSD maintains a positive tone and the pair is trading higher today. Price has pierced key resistance at 1.1017, the Nov 29 high and a bull trigger. A clear break of this hurdle would confirm a resumption of the uptrend and open 1.1065, the Aug 10 high. Moving average studies remain in a bull-mode set-up, highlighting an uptrend. Initial firm support is seen at 1.0885, the 20-day EMA.

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