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Still Climbing

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: 1.0770 @ 05:41 GMT Jan 12
  • SUP 1: 1.0626 20-day EMA
  • SUP 2: 1.0484 Low Jan 6
  • SUP 3: 1.0471/61 50-day EMA / 3.0% Lower Bollinger Band
  • SUP 4: 1.0394 Low Dec 1

EURUSD is holding on to this week’s gains. The continuation higher confirms a resumption of the uptrend. The recent break of the bull trigger, at 1.0735, the Dec 15 high, maintains the positive 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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