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Support Remains Intact

EURUSD TECHS
  • RES 4: 1.2285 High Jan 8
  • RES 3: 1.2243 High Feb 25 and a key resistance
  • RES 2: 1.2209 1.0% 10-dma envelope
  • RES 1: 1.2182/84 High May 11 / High Feb 26
  • PRICE: 1.2159 @ 07:09 BST May 17
  • SUP 1: 1.2052 Low May 13 and key short-term support
  • SUP 2: 1.2020 50-day EMA
  • SUP 3: 1.1986 Low May 5 and key short-term support
  • SUP 4: 1.1943 Low Apr 19

EURUSD maintains a positive tone following the recovery last week from 1.2052, May 13 low. This level represents a key S/T support where a break is required to highlight a top and the risk of a deeper pullback. Attention is on resistance at 1.2182, May 11 high where a break would confirm a resumption of the recovery that started Mar 31 and would signal scope for gains above 1.2200. A break of 1.2052 would expose 1.1986 instead, May 5 low.

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