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Reversal Exposes Key Support

EURUSD TECHS
  • RES 4: 1.0981 High Mar 8 and the bull trigger
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0921 76.4% retracement of the Mar 8 - Apr 2 bear leg
  • RES 1: 1.0828/85 20-day EMA / High Apr 09
  • PRICE: 1.0745 @ 05:38 BST Apr 11
  • SUP 1: 1.0725 Low Apr 2
  • SUP 2: 1.0695 Low Feb 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull rally

EURUSD traded sharply lower yesterday and cleared initial support at 1.0791, the Apr 5 low. The break lower reinstates a short-term bearish threat and signals the end of the recent recovery between Apr 2 - 9. The move lower has exposed 1.0725, the Apr 2 low, ahead of the key support at 1.0695, the Feb 14 low and bear trigger. Initial key resistance has been defined at 1.0885, Tuesday's high.

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  • RES 4: 1.0981 High Mar 8 and the bull trigger
  • RES 3: 1.0943 High Mar 21
  • RES 2: 1.0921 76.4% retracement of the Mar 8 - Apr 2 bear leg
  • RES 1: 1.0828/85 20-day EMA / High Apr 09
  • PRICE: 1.0745 @ 05:38 BST Apr 11
  • SUP 1: 1.0725 Low Apr 2
  • SUP 2: 1.0695 Low Feb 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull rally

EURUSD traded sharply lower yesterday and cleared initial support at 1.0791, the Apr 5 low. The break lower reinstates a short-term bearish threat and signals the end of the recent recovery between Apr 2 - 9. The move lower has exposed 1.0725, the Apr 2 low, ahead of the key support at 1.0695, the Feb 14 low and bear trigger. Initial key resistance has been defined at 1.0885, Tuesday's high.