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Support At The 20-Day EMA Remains Intact

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 2: 1.1076 High Apr 1 2022 and high Apr 14
  • RES 1: 1.1000 High Apr 17
  • PRICE: 1.0971 @ 16:30 BST Apr 20
  • SUP 1: 1.0909 Low Apr 17
  • SUP 2: 1.0898 20-day EMA
  • SUP 3: 1.0831 Low Apr 10
  • SUP 4: 1.0803 50-day EMA

The uptrend in EURUSD remains intact and the pair continues to trade above 1.0898, the 20-day EMA. The recent breach of 1.1033, Feb 2 high, reinforces bullish conditions and maintains the trend sequence of higher highs and higher lows. The bull trigger is 1.1076, Apr 14 high. The focus is on 1.1127, a Fibonacci projection and 1.1185, Mar 31 2022 high. On the downside, a break of the 20-day EMA would signal scope for a deeper retracement.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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