Free Trial

Watching Resistance

EURUSD TECHS
  • RES 4: 1.1046 High Jan 2
  • RES 3: 1.0998 High Jan 5
  • RES 2: 1.0932 High Jan 24
  • RES 1: 1.0888/98 High Feb 22 and a key resistance / High Feb 02
  • PRICE: 1.0856 @ 05:48 GMT Mar 6
  • SUP 1: 1.0796 Low Feb 29
  • SUP 2: 1.0762/0695 Low Feb 20 / 14 and the bear trigger
  • SUP 3: 1.0656 Low Nov 10
  • SUP 4: 1.0611 76.4% retracement of the Oct - Dec bull leg

EURUSD is holding on to its recent gains but -for now - remains below the Feb 22 high. The pair has breached the 50-day EMA - at 1.0836. A clear break of it would highlight a stronger reversal. 1.0888, the Feb 22 high also represents an important resistance. A breach would open 1.0932, Jan 24 high. For bears, the shooting star pattern on Feb 22 continues to highlight a possible reversal. A stronger move lower would expose 1.0695, Feb 14 low.

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.