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EURUSD TECHS

Outlook Remains Bearish

SNAPSHOT

Chinese Media Looks To Placate Equity Worry

EUROSTOXX50 TECHS

(U1) Holding Onto Gains

BTP TECHS

(U1) Needle Still Points North

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  • RES 4: 1.2218 High Jun 9
  • RES 3: 1.2147 High Jun 15
  • RES 2: 1.2040 20-day EMA
  • RES 1: 1.2006 High Jun 17
  • PRICE: 1.1939 @ 05:48 BST Jun 25
  • SUP 1: 1.1848 Low Jun 18 and 21 and the bear trigger
  • 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

Despite this week's bounce, the EURUSD outlook remains bearish following the recent sharp move lower. The 50-day EMA and 1.2104, Jun 4 low have been cleared, highlighting a bearish theme and this has confirmed a bearish price sequence of lower lows and lower highs. The focus is on 1.1837, a Fibonacci retracement where a break would open 1.1704, Mar 31 low and a key support. On the upside, initial firm resistance is 1.2006, the Jun 17 high.