Free Trial

Appears Vulnerable

EURUSD TECHS
  • 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: 1.2218 High Jun 9
  • PRICE: 1.2125 @ 05:55 BST Jun 15
  • SUP 1: 1.2093 Low Jun 11
  • SUP 2: 1.2052/43 Low May 13 / 100-dma
  • SUP 3: 1.1986 Low May 5
  • SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD is trading closer to recent lows. The pair traded lower last week and breached initial support at 1.2111, the 50-day EMA and 1.2104, Jun 4 low. The break lower signals scope for a deeper short-term correction and an extension would expose the next firm support at 1.2052, May 13 low with the 100-dma at 1.2043. On the upside, initial firm resistance is at 1.2218, Jun 9 high. A break would ease the bearish threat and open 1.2266 instead.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.