The EURUSD pair has moved higher to test resistance and create a high at 1.25549. This was marginally above the previous high at 1.25732. When this level failed as support, the market sent price lower through the broken blue trend line around 1.24911. Price action proceeded lower to the next support level at 1.24593, which was then used as resistance. With all of the technical support levels removed above 1.24000, it was the 50-period MA that stemmed the fall but the price was determined to continue its trend down, and, after a struggle, centred on this MA. It was used this morning as resistance, which sent price slicing under the red support trend line (1.23713) and the 100-period MA (1.23606). These levels will now act as resistance should price retrace higher. Price has found support at the low of 1.23319 today, with further support at 1.23223. Below these levels are supports at 1.22960, the 200-period MA at 1.22734 and broken blue trend line at 1.22653. A loss of this area would see support tested at 1.22400 and 1.22141, with 1.21640 in extension. GER30 The German Stock Index is trading around 12400 today inside the blue triangle. Resistance above can be found at 12473.9, with the top of the blue triangle at 12527.1. The next area of resistance is found around 12500.0, with the 100-period MA at 12578.2 and a descending red trend line at 12619.4. Before the price can target higher levels, 12680.0 needs to be overcome with the 200-period MA at 12791.2, close to 12809.4 resistance. There are intermediate levels at 12900.0 and 13000.0, which in itself will attract interest but technically the major resistance is located around 13250.0. Support can be found near 12337.3, with the triangle bottom in blue at 12306.3. A break below here targets intermediate supports at 12214.4 and 12096.5. Firmer support can be found at 12000.0, with the 11914.9 support close-by. The 2018 low from February 6th is found at 11681.2.
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