EURUSD TECHS: Corrective Cycle
Apr-22 17:00
- RES 4: 1.1076 High Apr 1
- RES 3: 1.1018 50-day EMA
- RES 2: 1.0989 High Apr 5
- RES 1: 1.0936 High Apr 21
- PRICE: 1.0785 @ 16:44 BST Apr 22
- SUP 1: 1.0771/0758 Low Apr 22 / Low Apr 14 and the bear trigger
- SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
- SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
- SUP 4: 1.0636 Low March 23 2020
EURUSD traded higher Thursday, however, the pair failed to hold on to its gains. A resumption of strength and a break of 1.0936 would signal scope for a continuation higher, potentially towards the 50-day EMA, at 1.1018. Short-term gains are still considered corrective and the 50-day EMA represents the next key resistance point. The bear trigger is unchanged at 1.0758, the Apr 14 low.
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