Free Trial

Trading At Its Recent Lows

EURUSD TECHS
  • RES 4: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 3: 1.1054/95 High May 8 / High Apr 26 and key resistance
  • RES 2: 1.1007 High May 10
  • RES 1: 1.0945 20-day EMA
  • PRICE: 1.0866 @ 05:49 BST May 17
  • SUP 1: 1.0831 Low Apr 10
  • SUP 2: 1.0805 50.0% retracement of the Mar 15 - Apr 26 bull run
  • 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 at its recent lows. The pair maintains a softer tone following the recent pullback and break of former support at 1.0942, May 2 low. The 50-day EMA, at 1.0891 and a key support, has been breached. This signals scope for an extension lower towards 1.0831, the Apr 10 low and 1.0805, a Fibonacci retracement. The current pullback is still considered corrective. Initial firm resistance is at 1.0945, the 20-day EMA.

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.