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Watching Support

EURUSD TECHS
  • RES 4: 1.1692 High Oct 28, 2021
  • RES 3: 1.1608 High Nov 9, 2021
  • RES 2: 1.1558 38.2% retracement of the May ‘21 - Jan 28 sell-off
  • RES 1: 1.1396/1.1495 High Feb 16 / High Feb 10
  • PRICE: 1.1300 @ 06:12 GMT Feb 24
  • SUP 1: 1.1280 Low Feb 14
  • SUP 2: 1.1265 Low Feb 3
  • SUP 3: 1.1209 76.4% retracement of the Jan 28 - Feb 10 rally
  • SUP 4: 1.1121 Low Jan 28 and the bear trigger

EURUSD failed to hold onto yesterday’s high. Despite trading lower, the pair continues to trade above 1.1280, the Feb 14 low. A bullish theme dominates while this support holds and attention is on resistance at the Feb 16 high of 1.1396. A break of this hurdle would improve the outlook for bulls and expose 1.1495, the Feb 10 high and bull trigger. Sub 1.1280 levels though would suggest scope for a deeper retracement of the Jan 28 - Feb 10 upleg.

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