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Bearish Price Sequence

  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.2005 50-day EMA
  • RES 2: 1.1930/1975 High Jun 29 / High Jun 25
  • RES 1: 1.1895 High Jul 6
  • PRICE: 1.1795 @ 05:57 BST Jul 8
  • SUP 1: 1.1782 Low Jul 7
  • 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 traded lower again Wednesday and solidified the break of 1.1808, Jul 2 low. The outlook remains bearish and the move lower maintains the current bearish price sequence of lower lows and lower highs. Price has traded through 1.1795, the Apr 6 low, turning focus to key support at 1.1704, Mar 31 low. Key short-term resistance has been defined at 1.1975, Jun 25 high. Initial firm resistance is at 1.1895, the Tuesday high.

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