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Trend Needle Points North

EURUSD TECHS
  • RES 4: 1.1225 1.236 projection of the Mar 15 - 23 - 24 price swing
  • RES 3: 1.1185 High Mar 31 2022
  • RES 2: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 1: 1.1095 High Apr 26
  • PRICE: 1.1053 @ 05:44 BST Apr 27
  • SUP 1: 1.0941 20-day EMA
  • SUP 2: 1.0840/31 50-day EMA / Low Apr 10
  • SUP 3: 1.0788 Low Apr 3
  • SUP 4: 1.0745 Low Mar 27

EURUSD traded higher Wednesday and breached resistance at 1.1076, the Apr 1 2022 high and recent Apr 14 high. This reinforces bullish conditions and confirms a resumption of the primary uptrend and opens 1.1127, a Fibonacci retracement. Note that moving average studies are in a bull-mode condition highlighting a rising trend. On the downside, key short-term support is unchanged at the 20-day EMA which intersects at 1.0941.

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