- RES 4: 1.0886 (Apr 8th high)
- RES 3: 1.0756 (200 day HMA)
- RES 2: 1.0706 (14th Apr high)
- RES 1: 1.0632 (20 day 4HMA)
PRICE: 1.05848 @ 11:52 GMT
- SUP 1: 1.0550 (Mar 17th low)
- SUP 2: 1.04610 (Mar 13th low)
- SUP 3: 1.0393 (61.8% retracement of 1.1523 to 1.04613 from 1.10509)
- SUP 4:1.0300
Commentary:
EUR/USD has slight recovered till 1.0706 after making a low of 1.0525. Overall trend is weak as long as 1.0756 holds.
ECB has kept its benchmark interest rates, marginal lending facility and deposit facility unchanged at 0.05% in today's meeting. Market awaits ECB press conference at 12:30 GMT.
On the upside minor resistance is around 1.0632 and break above would extend gains till 1.0706/1.0760. Sell around 1.0640 stop around 1.0760 with target of 1.0460/1.0395.


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