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Resumes Its Uptrend

EURUSD TECHS
  • RES 4: 1.0851 High Apr 25, 2022
  • RES 3: 1.0846 2.0% 10-dma envelope
  • RES 2: 1.0787 High May 30 and a key resistance
  • RES 1: 1.0776 High Jan 11
  • PRICE: 1.0752 @ 16:20 GMT Jan 11
  • SUP 1: 1.0612 20-day EMA
  • SUP 2: 1.0484/75 Low Jan 6 / 3.0% Lower Bollinger Band
  • SUP 3: 1.0459 50-day EMA
  • SUP 4: 1.0394 Low Dec 1

EURUSD is holding on to this week’s gains. The move higher has confirmed a resumption of the uptrend - the bull trigger at the Dec 15 high at 1.0735, has been cleared. The break higher maintains the bullish price sequence of higher highs and higher lows and note that moving average studies are in a bull-mode position. The focus is on 1.0787, the May 30, 2022 high. Key support has been defined at 1.0484, the Jan 6 low.

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