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- RES 4: 1.1821 High Sep 16
- RES 3: 1.1752/55 Bear channel from Jun 1 high / High Sep 22
- RES 2: 1.1708 50-day EMA
- RES 1: 1.1627/40 20-day EMA / High Oct 4
- PRICE: 1.1604 @ 15:51 BST Oct 18
- SUP 1: 1.1524 Low Oct 12 and the bear trigger
- SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
- SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
- SUP 4: 1.1412 Bear channel base drawn from the Jun 1 high
EURUSD is trading above recent lows. Attention is on resistance at the 20-day EMA that intersects at 1.1627. A break is required to signal scope for a stronger recovery however, short-term gains would be considered corrective with a broader bearish trend condition still intact. A price sequence of lower lows and lower highs and bearish moving average conditions both highlight a downtrend. The bear trigger is unchanged at 1.1524, Oct 12 low.