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Takes Out Key Support

EURUSD TECHS
  • RES 4: 1.1975 High Jun 25
  • RES 3: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 2: 1.1846 High Sep 14 / 1.0% 10-dma envelope
  • RES 1: 1.1755/95 High Sep 22 / 50-day EMA
  • PRICE: 1.1616 @ 16:33 BST Sep 29
  • SUP 1: 1.1611 Low Sep 29
  • SUP 2: 1.1603 Low Nov 4, 2020
  • SUP 3: 1.1591 1.0% 10-dma envelope
  • SUP 4: 1.1581 Low Jul 24, 2020

EURUSD extended losses through key support Wednesday, slipping to fresh 2021 lows. Price accelerated on the slip through 1.1664, Aug 20 low and the bear trigger. This confirms a resumption of the broader downtrend that has been in place since May 25 and opens 1.1601 initially. Resistance is at 1.1755, Sep 22 high. Clearance of this level is required to signal a short-term base.

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

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