Free Trial

Under Pressure

EURUSD TECHS
  • RES 4: 1.1608 High Nov 9, 2021
  • RES 3: 1.1558 38.2% retracement of the May ‘21 - Jan 28 sell-off
  • RES 2: 1.1396/1.1495 High Feb 16 / High Feb 10
  • RES 1: 1.1313 Intraday high
  • PRICE: 1.1247 @ 06:12 GMT Feb 24
  • SUP 1: 1.1209 76.4% retracement of the Jan 28 - Feb 10 rally
  • SUP 2: 1.1121 Low Jan 28 and the bear trigger
  • SUP 3: 1.1168 Low Jun 19 2020
  • SUP 4: 1.1115 Low Jun 2 2020

EURUSD remains vulnerable as the recent bearish wave resumes. This has resulted in a break of support at 1.1280, Feb 14 low and the pair has tested the 76.4% retracement of the recent Jan 28 - Feb 10 upleg. A breach of this level would pave the way for a sell-off towards key support at 1.1121, the Jan 28 low and a bear trigger. Key short-term resistance has been defined at 1.1396, Feb 16 high.

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.