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Bearish Focus

EURUSD TECHS
  • RES 4: 1.2021 50-day EMA
  • RES 3: 1.2006 High Jun 29 / Jun 17
  • RES 2: 1.1930/1975 High Jun 29 / High Jun 25
  • RES 1: 1.1909 High Jun 30
  • PRICE: 1.1874 @ 05:59 BST Jul 6
  • SUP 1: 1.1808/1795 Low Jul 2 / Low Apr 6
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD is trading above last week's low print. The outlook though remains bearish. The pair recently cleared 1.1848, Jun 18, 21 lows and 1.1837, 76.4% of the Mar 31 - May 25 rally. The break reinforces a bearish theme and suggests scope for weakness towards 1.1795 next, Apr 6 low and the key support at 1.1704, Mar 31 low. Key short-term resistance has been defined at 1.1975, Jun 25 high. Initial resistance is at 1.1909, Jun 30 high.

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