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Watching Resistance

EURUSD TECHS
  • RES 4: 1.1076 High Apr 1 2022
  • RES 3: 1.1033 High Feb 2 and key resistance
  • RES 2: 1.0940 High Feb 3
  • RES 1: 1.0926/0930 High Mar 30 and 31 / High Mar 23
  • PRICE: 1.0889 @ 05:34 BST Apr 4
  • SUP 1: 1.0788 Low Apr 3
  • SUP 2: 1.0774 20-day EMA
  • SUP 3: 1.0714 50-day EMA
  • SUP 4: 1.0631 Low Mar 20

EURUSD recovered from Monday’s session low, however, price remains below last week’s 1.0926 high and resistance at 1.0930, Mar 23 high. 1.0930 represents a key short-term hurdle for bulls and a break would reinstate the recent bull theme and signal scope for a 1.1033, the Feb 2 high. On the downside, support to watch lies at 1.0774 (20-day EMA) and 1.0714 (50-day EMA). A move through this support zone would be bearish.

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