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Trading Closer To Its Recent Lows

EURUSD TECHS
  • RES 4: 1.1034 76.4% retracement of the Dec 28 - Feb 14 bear leg
  • RES 3: 1.0998 High Jan 5
  • RES 2: 1.0981 High Mar 8 and the bull trigger
  • RES 1: 1.0860/0943 20-day EMA / High Mar 21
  • PRICE: 1.0826 @ 05:50 GMT Mar 28
  • SUP 1: 1.0802 Low Mar 22 / 25 low
  • SUP 2: 1.0796 Low Feb 29
  • SUP 3: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 4: 1.0656 Low Nov 10

EURUSD is unchanged. A bearish theme remains intact and price is trading closer to its recent lows. Support at 1.0835, the Mar 19 low, has been breached and sights are on 1.0796, the Feb 29 low. Clearance of this level would strengthen a bearish theme and signal scope for an extension. For bulls, a move above 1.0943, the Mar 21 high, is required to ease bearish pressure and expose key resistance at 1.0981, the Mar 8 high.

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  • RES 4: 1.1034 76.4% retracement of the Dec 28 - Feb 14 bear leg
  • RES 3: 1.0998 High Jan 5
  • RES 2: 1.0981 High Mar 8 and the bull trigger
  • RES 1: 1.0860/0943 20-day EMA / High Mar 21
  • PRICE: 1.0826 @ 05:50 GMT Mar 28
  • SUP 1: 1.0802 Low Mar 22 / 25 low
  • SUP 2: 1.0796 Low Feb 29
  • SUP 3: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 4: 1.0656 Low Nov 10

EURUSD is unchanged. A bearish theme remains intact and price is trading closer to its recent lows. Support at 1.0835, the Mar 19 low, has been breached and sights are on 1.0796, the Feb 29 low. Clearance of this level would strengthen a bearish theme and signal scope for an extension. For bulls, a move above 1.0943, the Mar 21 high, is required to ease bearish pressure and expose key resistance at 1.0981, the Mar 8 high.