Free Trial

Tests The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1920 38.2% of the May 25 - Aug 11 sell-off
  • RES 3: 1.1909 High Jul 30
  • RES 2: 1.1871 50-day EMA
  • RES 1: 1.1802/05 20-day EMA / High Aug 13
  • PRICE: 1.1783 @ 16:20 BST Aug 16
  • SUP 1: 1.1706 Low Aug 10
  • SUP 2: 1.1704 Low Mar 31 and a key support
  • SUP 3: 1.1695 38.2% retracement of the 2020 - 2021 Rally
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD recovered Friday and closed near session highs. The recovery means support at the 1.1704 2021 low printed back in March remains intact. The trend condition is bearish though and gains are considered corrective. A break of last week's 1.1706 low and 1.1704 would confirm a resumption of the downtrend and represent an important technical break. Initial resistance is at Friday's 1.1805 high.

To read the full story

Close

Why MNI

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.