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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: 1.0878 @ 15:27 BST May 12
  • SUP 1: 1.0877 Low May 12
  • 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 traded lower again Friday 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 Friday, 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.

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