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Watching Support At The 20-Day EMA

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1127 1.00 projection of the Mar 15 - 23 - 24 price swing
  • RES 2: 1.1076 High Apr 1 2022 and high Apr 14 and the bull trigger
  • RES 1: 1.1067 High Apr 24
  • PRICE: 1.0982 @ 05:51 BST Apr 26
  • SUP 1: 1.0930 20-day EMA
  • SUP 2: 1.0831 Low Apr 10 and the 50-day EMA
  • SUP 3: 1.0788 Low Apr 3
  • SUP 4: 1.0745 Low Mar 27

EURUSD reversed course Tuesday, erasing Monday's gains. A key short-term support at the 20-day EMA which intersects at 1.0930 today, remains intact. Trend conditions are bullish and MA studies remain in a bull mode position. The trigger for a resumption of the uptrend is 1.1076, Apr 14 high. A break would open 1.1127, a Fibonacci projection On the downside, clearance of the 20-day EMA would signal scope for a deeper retracement.

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