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Probes 1.1612 Support

EURUSD TECHS
  • RES 4: 1.1881 High Oct 21 and the bull trigger
  • RES 3: 1.1861 Oct 26 high
  • RES 2: 1.1798 High Oct 28
  • RES 1: 1.1770 Intraday high
  • PRICE: 1.1659 @ 05:47 GMT Nov 4
  • SUP 1: 1.1603 Intraday low
  • SUP 2: 1.1576 0.764 proj of Sep 1 - 25 sell-off from Oct 21 high
  • SUP 3: 1.1541 Low Jul 23
  • SUP 4: 1.1482 1.000 proj of Sep 1 - 25 sell-off from Oct 21 high

EURUSD is volatile. Technical signals continue to highlight a bearish backdrop though and today's low print of 1.1603 highlights an extension of the recent downleg with price probing key support at 1.1612, Sep 25 low. A clear break of 1.1612 would signal potential for weakness towards 1.1576 next, a Fibonacci projection. On the upside, today's initial resistance is at the overnight high of 1.1770.

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