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Bears Remains In The Driver’s Seat

EURUSD TECHS
  • RES 4: 1.0916 High Jun 04 and the bull trigger
  • RES 3: 1.0852 High High Jun 12
  • RES 2: 1.0805 50-day EMA
  • RES 1: 1.0745 Intraday high
  • PRICE: 1.0701 @ 12:19 BST Jun 14
  • SUP 1: 1.0672 Intraday low
  • SUP 2: 1.0650 Low May 1
  • SUP 3: 1.0601 Low Apr 16 and a key support
  • SUP 4: 1.0568 Low Nov 2

The reversal in EURUSD from Wednesday high has resulted in a break of support at 1.0720, the Jun 11 low. This strengthens a bearish theme. Note too that today’s sell-off has resulted in a print below 1.0675, 76.4% of the Apr 16 - Jun 4 bull leg. A clear break of this level would signal scope for an extension towards 1.0650 next, the May 1 low. Key short-term resistance has been defined at 1.0852, Wednesday’s high.

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