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Strength to Strength

EURUSD TECHS
  • RES 4: 1.2173 2.0% 10-dma envelope
  • RES 3: 1.2138 1.236 proj of the Nov 4 - 9 rally from the Nov 11 low
  • RES 2: 1.2123 3.0% Upper Bollinger Band
  • RES 1: 1.2108 High Dec 2
  • PRICE: 1.2088 @ 16:57 GMT Dec 2
  • SUP 1: 1.2011 High Sep 1 and recent breakout level
  • SUP 2: 1.1927 Low Dec 1
  • SUP 3: 1.1879 20-day EMA
  • SUP 4: 1.1816 50-day EMA

EURUSD maintains a bullish stance having traded to a fresh 2020 high and above the 1.21 handle. This cements the bullish outlook and confirms a resumption of the uptrend that has dominated since March. Attention turns to 1.2138 initially to reinforce further bullish conditions. On the downside, 1.2011 marks initial support.

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