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Bearish Threat Remains Present

EURUSD TECHS
  • RES 4: 1.0852 High Apr 22
  • RES 3: 1.0787 High May 30
  • RES 2: 1.0680/0774 Bear channel top from Feb 10 high / High Jun 9
  • RES 1: 1.0601 High Jun 16
  • PRICE: 1.0530 @ 16:04 BST Jun 20
  • SUP 1: 1.0359 Low Jun 15
  • SUP 2: 1.0350 Low May 13 and bear trigger
  • SUP 3: 1.0341 Low Jan 3 2017 and a key support
  • SUP 4: 1.0142 Bear channel base, drawn from the Feb 10 high

EURUSD remains above recent lows however a bearish threat is still present. Recent weakness, following a reversal at the top of the bear channel drawn from the Feb 10 high, highlights a bearish condition. The channel top intersects at 1.0680 Monday. The reversal lower also signals a resumption of the primary downtrend and attention is on 1.0350, May 13 low. Initial firm resistance is at 1.0601, Jun 16 high.

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  • RES 4: 1.0852 High Apr 22
  • RES 3: 1.0787 High May 30
  • RES 2: 1.0680/0774 Bear channel top from Feb 10 high / High Jun 9
  • RES 1: 1.0601 High Jun 16
  • PRICE: 1.0530 @ 16:04 BST Jun 20
  • SUP 1: 1.0359 Low Jun 15
  • SUP 2: 1.0350 Low May 13 and bear trigger
  • SUP 3: 1.0341 Low Jan 3 2017 and a key support
  • SUP 4: 1.0142 Bear channel base, drawn from the Feb 10 high

EURUSD remains above recent lows however a bearish threat is still present. Recent weakness, following a reversal at the top of the bear channel drawn from the Feb 10 high, highlights a bearish condition. The channel top intersects at 1.0680 Monday. The reversal lower also signals a resumption of the primary downtrend and attention is on 1.0350, May 13 low. Initial firm resistance is at 1.0601, Jun 16 high.