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EUR/USD takes support at 1.0802 (trend line joining 1.04685 and 1.0717), trend reversal can be seen only above 1.100

  • RES 4: 1.1035 (Apr 6th high)


  • RES 3:   1.0960 (200 day 4HEMA)


  •  RES 2: 1.0921 (200 day 4HMA)


  •  RES 1: 1.0881 (Cloud Bottom)

    PRICE: 1.08434 @ 11:53 GMT 

  • SUP 1: 1.0794 (Cloud bottom)
      

  • SUP 2: 1.0720 (Mar 31st low)


  • SUP 3: 1.0680 (61.8% retracement of 1.04613 and 1.10509)

  • SUP 4:1.0610 (Mar 19th low)

Commentary:

EUR/USD has slightly recovered after making a low of 1.0802. Short term trend is weak as long as resistance 1.0960 holds.

On the upside minor resistance is around 1.0881 and break above would extend gains till 1.0921/1.0960. Sell around 1.0875 stop around 1.0960 with target of 1.0600.

 

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