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Channel Resistance Remains Intact

EURUSD TECHS
  • RES 4: 1.0954 High Apr 11
  • RES 3: 1.0936 High Apr 21 and a key resistance
  • RES 2: 1.0852 High Apr 22
  • RES 1: 1.0786/87 Bear channel top from Feb 10 high / High May 30
  • PRICE: 1.0712 @ 13:53 BST Jun 2
  • SUP 1: 1.0627/0533 Low May 25 / Low May 20
  • SUP 2: 1.0461 Low May 18 and19
  • SUP 3: 1.0350 Low May 13 and bear trigger
  • SUP 4: 1.0341 Low Jan 3 2017 and a key support

EURUSD has stabilised, but the pair remains off Monday’s high and remains below the top of a bear channel drawn from the Feb 10 high. The channel top intersects at 1.0786 Thursday. This level marks a key short-term resistance where a break would strengthen bullish conditions and highlight a stronger short-term reversal. The primary trend remains down and an extension lower would reinforce the bearish theme and open 1.0533 initially, May 20 low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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