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AUSSIE 10-YEAR TECHS

(U1) Needle Points North

AUSSIE 3-YEAR TECHS

(U1) Holding Onto Gains

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  • RES 4: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 3: 1.2218 High Jun 9
  • RES 2: 1.2147 High Jun 15
  • RES 1: 1.2006 High Jun 17
  • PRICE: 1.1863 @ 15:33 BST Jun 18
  • SUP 1: 1.1854 Low Jun 18
  • SUP 2: 1.1837 76.4% retracement of the Mar 31 - May 25 rally
  • SUP 3: 1.1795 Low Apr 6
  • SUP 4: 1.1738 Low Apr 5

EURUSD remained under pressure Friday as the week's bear cycle extends. The recent breach of the 50-day EMA and 1.2104, Jun 4 low highlights a bearish theme and this week's sell-off reinforces current bearish sentiment. The focus is on 1.1837, a Fibonacci retracement where a break would open 1.1704, the Mar 31 low. On the upside, initial resistance is at 1.2006, Thursday's intraday high.