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Resistance Stays Intact - For Now

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: 1.0770 @ 16:16 GMT Mar 21
  • SUP 1: 1.0653/1.0516 50-day EMA / Low Mar 15
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0461 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. A clear break of this level would strengthen the current bull theme. This would signal scope for gains towards 1.0803 next, the Feb 14 high. On the downside, key short-term support has been defined at 1.0516, the Mar 15 low, where a break is required to reinstate the recent bearish theme.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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