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Probed Key Short-Term Support

EURO-DOLLAR TECHS
  • RES 4: 1.2011 High Sep 1 and major resistance
  • RES 3: 1.1917 High Sep 10 and 76.4% of the Sep 1 - 25 sell-off
  • RES 2: 1.1859 61.8% retracement of the Sep 1 - 25 sell-off
  • RES 1: 1.1817/31 High Oct 13 / High Oct 10 and the bull trigger
  • PRICE: 1.1754 @ 18:04 BST Oct 14
  • SUP 1: 1.1720 Low Oct 14
  • SUP 2: 1.1685 Low Sep 30
  • SUP 3: 1.1612/1581 Low Sep 25 and the bear trigger / Low Jul 24
  • SUP 4: 1.1584 100-dma

EURUSD traded lower Wednesday but did manage to find support at the day low. Attention has been on key support at 1.1725, Oct 7 low. This level was probed Wednesday. A clear break would negate recent bullish signals and signal scope for deeper pullback, exposing 1.1612, Sep 25 low and the key bear trigger. A move higher would again refocus attention on key resistance at 1.1831, Oct 10 high. A break of this level resumes recent bullish pressure.

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