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Free AccessTrading Above The 20-Day EMA
- RES 4: 1.1990 High Mar 11 and a key resistance
- RES 3: 1.1941 50-day EMA
- RES 2: 1.1915 High Apr 7
- RES 1: 1.19041.0% 10-dma envelope
- PRICE: 1.1870 @ 05:42 GMT Apr 8
- SUP 1: 1.1795 Low Apr 6
- SUP 2: 1.1738 Low Apr 5
- SUP 3: 1.1704/1695 Low Mar 31 / 38.2% of the Mar 2020 - Jan rally
- SUP 4: 1.1647 1.50 proj of the Jan 6 - Feb 5 - Feb 25 price swing
EURUSD traded higher yesterday and briefly above the 1.0% 10-dma envelope, today at 1.1904, before retracing. Recent gains have resulted in price moving into a bear channel range once again, drawn off this year's Jan 6 high and above the 20-day EMA. Gains are considered corrective though with the next firm resistance at 1.1941, the 50-day EMA. A clear break of the average would signal scope for a stronger rally. Initial support is 1.1795.
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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.