Free Trial

Testing Key Support

  • RES 4: 1.0803 High Feb 14 and key resistance
  • RES 3: 1.0745 High Feb 15
  • RES 2: 1.0694 High Mar 6 / 7 and key short-term resistance
  • RES 1: 1.0645 20-day EMA
  • PRICE: 1.0553 @ 05:45 GMT Mar 9
  • SUP 1: 1.0525 Low Mar 8
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0461 38.2% retracement of the Sep 28 - Feb 2 bull leg
  • SUP 4: 1.0402/0388 Trendline support / 2.0% 10-dma envelope

EURUSD reversed sharply Tuesday and the pair continues to trade at this week’s lows. This sell-off has resulted in a print below support at 1.0533, the Feb 27 low. A clear break of this level would confirm a resumption of the downtrend and open 1.0484, the Jan 6 low and a key support. A trendline support lies at 1.0402 - the line is drawn from the Sep 28 low. Key short-term resistance is unchanged at 1.0694, the Feb 6 and 7 high.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.