EURUSD TECHS: Bearish Outlook

• RES 4: 1.0937 High Nov 5 / 6 and a key resistance  
• RES 3: 1.0825 High Nov 7 
• RES 2: 1.0689 50-day EMA
• RES 1: 1.0566/0630 20-day EMA / High Dec 06
• PRICE: 1.0465 @ 06:02 GMT Dec 13
• SUP 1: 1.0425/0335 Low Nov 26 / 22 and the bear trigger   
• SUP 2: 1.0311 1.382 proj of the Sep 25 - Oct 23 - Nov 5 price swing
• SUP 3: 1.0258 1.500 proj of the Sep 25 - Oct 23 - Nov 5 price swing  
• SUP 4: 1.0201 61.8% retracement of the Sep 28 - Juk 18 bull leg     

EURUSD has traded lower this week and the pair maintains a softer tone. Resistance at 1.0557, the 20-day EMA, is intact. A close above this average would signal scope for a stronger corrective recovery towards 1.0680, the 50-day EMA. An extension higher would allow for a continued unwinding of the recent oversold condition. Support at 1.0461, the Dec 2 low, has been pierced. A clear break would expose 1.0335, the Nov 22 low and bear trigger.