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Through Short-Term Support

EURUSD TECHS
  • RES 4: 1.1692 High Oct 28, 2021
  • RES 3: 1.1608 High Nov 9, 2021
  • RES 2: 1.1558 38.2% retracement of the May ‘21 - Jan 28 sell-off
  • RES 1: 1.1495 High Feb 10
  • PRICE: 1.1306 @ 16:51 GMT Feb 14
  • SUP 1: 1.1292 Low Feb 14
  • SUP 2: 1.1267 Low Feb 2
  • SUP 3: 1.1221/1121 Low Jan 1 / Low Jan 28 and the bear trigger
  • SUP 4: 1.1070 Low May 29, 2020

EURUSD traded lower still Monday, putting the pair through nearby support at the 1.1320 bear channel top. This reinforces the medium-term trend which continues to point lower. Further losses toward the 1.13 handle as well as the Feb 2 low of 1.1267. Any intraday rallies target key short-term resistance at Thursday’s high of 1.1495. A break of this level is required to confirm a resumption of the recent upleg and also remove any bearish concerns.

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