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Tops 50-day EMA

EURUSD TECHS
  • RES 4: 1.1274 High Feb 25
  • RES 3: 1.1261 2.0% 10-dma envelope
  • RES 2: 1.1232 61.8% of Feb 10-Mar 7 sell-off
  • RES 1: 1.1222 3.0% Upper Bollinger Band
  • PRICE: 1.1157 @ 16:18 GMT Mar 30
  • SUP 1: 1.0945 Low Mar 28
  • SUP 2: 1.0890/06 Low Mar 9 / Low Mar 7 and the bear trigger
  • SUP 3: 1.0767 Low May 7 2020
  • SUP 4: 1.0727 Low Apr 24, 2020

EURUSD rallied further Wednesday, topping key near-term resistance of 1.1137, Mar 17 high. The break here eases recent bearish threats and highlights a developing bullish theme. Prices topped the 50-day EMA at 1.1150, opening 1.1232 initially ahead of 1.1261. Initial support is at 1.0945, Monday’s low.

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

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