Free Trial

Trades Through The 50-Day EMA

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 2: 1.1054/95 High May 8 / High Apr 26 and key resistance
  • RES 1: 1.1007 High May 10
  • PRICE: 1.0888 @ 14:32 BST May 12
  • SUP 1: 1.0881 Intraday low
  • SUP 2: 1.0831 Low Apr 10
  • SUP 3: 1.0788 Low Apr 3
  • SUP 4: 1.0737 61.8% retracement of the Mar 15 - Apr 26 bull run

EURUSD is trading lower again today as it extends the recent break of former support at 1.0942, the May 2 low. The pair has traded through the 50-day EMA today, at 1.0895. This average represents an important support and a clear break would signal scope for an extension towards 1.0831, the Apr 10 low. More broadly, the uptrend remains intact and a resumption of gains would refocus attention on 1.1095, the Apr 26 high and the bull trigger.

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.