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Recovery Extends

EURUSD TECHS
  • RES 4: 1.1033 High Feb 2 and key resistance
  • RES 3: 1.0911 76.4% retracement of the Feb 2 - Mar 15 bear leg
  • RES 2: 1.0836 61.8% retracement of the Feb 2 - Mar 15 bear leg
  • RES 1: 1.0803 High Feb 14 and key resistance
  • PRICE: 1.0771 @ 05:38 GMT Mar 22
  • SUP 1: 1.0657/1.0516 50-day EMA / Low Mar 15
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0476 Trendline support drawn from the Sep 28 2022 low
  • SUP 4: 1.0394 Low Dec 1

EURUSD traded higher again Tuesday and the pair has moved above resistance at 1.0760, the Mar 15 high. The clear break of this level strengthens the current bull theme and signals scope for gains towards 1.0803 next, the Feb 14 high. On the downside, key short-term support is unchanged at 1.0516, the Mar 15 low, where a break is required to reinstate the recent bearish theme.

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