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Trades Through 1.0800

EURUSD TECHS
  • RES 4: 1.0913 2.764 proj of the Sep 28 - Oct 4 - Oct 13 price swing
  • RES 3: 1.0851 High Apr 25, 2022
  • RES 2: 1.0846 2.0% 10-dma envelope
  • RES 1: 1.0838 Intraday high
  • PRICE: 1.0801 @ 14:22 GMT Jan 12
  • SUP 1: 1.0626 20-day EMA
  • SUP 2: 1.0484 Low Jan 6
  • SUP 3: 1.0471/61 50-day EMA / 3.0% Lower Bollinger Band
  • SUP 4: 1.0394 Low Dec 1

EURUSD has traded higher today and this has resulted in a break of 1.0787, the May 30, 2022 high and a key short-term resistance. The break higher reinforces the bull trend condition. Earlier this week, the move through 1.0735, the Dec 15 high, confirmed a resumption of the uptrend. This opens the Apr 25, 2022 high of 1.0851. Key support has been defined at 1.0484, the Jan 6 low. Initial support lies at 1.0626, the 20-day EMA.

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