50-Day EMA Remains Exposed

• RES 4: 1.2414 High Apr 17, 2018
• RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
• RES 2: 1.2266/85 High May 25 and the bull trigger / High Jan 8
• RES 1: 1.2214 High Jun 3
• PRICE: 1.2179 @ 16:43 BST Jun 8
• SUP 1: 1.2104/2102 Low Jun 4 / 50-day EMA
• SUP 2: 1.2052 Low May 13 and key short-term support
• SUP 3: 1.1986 Low May 5
• SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD is holding onto its most recent gains and is trading above last week's low of 1.2104. The pair remains vulnerable though following a sharp pullback Jun 3 that saw price trade through initial support at 1.2133, May 28 low. If correct, this highlights potential for a deeper correction and attention is on the 50-day EMA at 1.2102 that also represents a key area of support. On the upside, primary resistance has been defined at 1.2266, May 25 high.