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Southbound

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1
  • RES 3: 1.0967 50-day EMA
  • RES 2: 1.0820/0936 20-day EMA / High Apr 21
  • RES 1: 1.0655/0758 High Apr 27 / Low Apr 14 - recent breakout level
  • PRICE: 1.0505 @ 06:14 BST Apr 28
  • SUP 1: 1.0494 Low Feb 22 2017
  • SUP 2: 1.0454 Low Jan 1 2017
  • SUP 3: 1.0390 Low Jan 4 2017
  • SUP 4: 1.0333 1.236 proj of the Feb 10 - Mar 7 - 31 price swing

EURUSD remains under pressure and is weaker again today. The pair has cleared 1.0600. The move lower once again confirms an extension of the bearish price sequence of lower lows and lower highs, that defines a downtrend. Further weakness is likely and the focus is on 1.0494, the Feb 22 2017 low. Key short-term resistance has been defined at 1.0936, the Apr 21 high. Initial firm resistance is seen at 1.0758, the Apr 14 low.

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