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(M2) Resistance Remains Intact


A Touch Higher In Asia


(M2) Pulling Away From Its Recent High


NAB: RBA Still To Hike 25bp In June

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Still Heavy!

  • RES 4: 1.1989/90 High Mar 18 / 11 and the short-term bull trigger
  • RES 3: 1.1988 50-day EMA
  • RES 2: 1.1947 High Mar 22
  • RES 1: 1.1805/53 High MAr 26 / High Mar 24
  • PRICE: 1.1737 @ 09:16 GMT Mar 30
  • SUP 1: 1.1711 Low Nov 5
  • SUP 2: 1.1694 1.382 proj of the Jan 6 - Feb 5 - Feb 25 price swing
  • SUP 3: 1.1647 1.50 proj of the Jan 6 - Feb 5 - Feb 25 price swing
  • SUP 4: 1.1603 Low Nov 4

EURUSD weakness has extended this morning and the pair has cleared support at 1.1752, a Fibonacci projection. This reinforces current bearish conditions and paves the way for losses towards 1.1711 next, Nov 5 low. Last week's move lower resulted in a break of the 200-day MA. This confirmed a resumption of this year's downtrend and is weighing on the pair. On the upside, firm resistance is at 1.1947, the Mar 22 high.

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