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Trading Above Support At The 20-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: 1.1076 High Apr 1 2022 and high Apr 14
  • RES 1: 1.1067 High Apr 24
  • PRICE: 1.0985 @ 16:21 BST Apr 25
  • SUP 1: 1.0925 20-day EMA
  • SUP 2: 1.0831 Low Apr 10
  • SUP 3: 1.0826 50-day EMA
  • SUP 4: 1.0788 Low Apr 3

EURUSD reversed course Tuesday, erasing the week’s gains to put the pair back to flat since the Monday open. Despite the pullback, Monday’s lows held, helping keep the broader outlook bullish. The price continues to trade above 1.0925, the 20-day EMA. MA studies are in a bull mode position, highlighting an uptrend. The bull trigger is 1.1076, Apr 14 high, a break would open 1.1127, a Fibonacci projection and 1.1185, Mar 31 2022 high. On the downside, clearance of the 20-day EMA would signal scope for a deeper retracement.

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