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Support Remains Exposed

EURUSD TECHS
  • RES 4: 1.0787 High May 30 and a reversal trigger
  • RES 3: 1.0619/0774 50-day EMA / High Jun 9
  • RES 2: 1.0592/1.0615 Channel top from Feb 10 high / High Jun 27
  • RES 1: 1.0532 20-day EMA
  • PRICE: 1.0447 @ 14:56 BST Jul 4
  • SUP 1: 1.0366/0359 Low Jul 1 / 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: 1.0233 1.382 proj of Feb 10 - Mar 7 - 31 Price swing

EURUSD remains vulnerable. The pair continues to trade inside its bear channel, drawn from the Feb 10 high. The channel top intersects at 1.0592 where a break is required to reverse the short-term direction. Attention is on support at 1.0350, the May 13 low and a bear trigger. Clearance of this level would confirm a resumption of the primary downtrend and open 1.0233, a Fibonacci projection.

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  • RES 4: 1.0787 High May 30 and a reversal trigger
  • RES 3: 1.0619/0774 50-day EMA / High Jun 9
  • RES 2: 1.0592/1.0615 Channel top from Feb 10 high / High Jun 27
  • RES 1: 1.0532 20-day EMA
  • PRICE: 1.0447 @ 14:56 BST Jul 4
  • SUP 1: 1.0366/0359 Low Jul 1 / 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: 1.0233 1.382 proj of Feb 10 - Mar 7 - 31 Price swing

EURUSD remains vulnerable. The pair continues to trade inside its bear channel, drawn from the Feb 10 high. The channel top intersects at 1.0592 where a break is required to reverse the short-term direction. Attention is on support at 1.0350, the May 13 low and a bear trigger. Clearance of this level would confirm a resumption of the primary downtrend and open 1.0233, a Fibonacci projection.