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AUDUSD TECHS

Trend Needle Points North

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Bonds Near Highs, Yield Curves Flatter

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Bullish Focus

EURGBP TECHS
  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8679 High Jul 1
  • PRICE: 0.8621 @ 06:24 BST Jul 4
  • SUP 1: 0.8551 Low Jun 30
  • SUP 2: 0.8530 50-day EMA
  • SUP 3: 0.8486 Low Jun 9
  • SUP 4: 0.8433 Low May 23

EURGBP is trading in a choppy manner but trend conditions remain bullish and a dip-buying theme was evident last Thursday’s. The cross is also trading above important support levels and moving average studies remain in a bull mode condition, highlighting an uptrend. Attention is on a retest of 0.8721, the Jun 15 high and bull trigger. A break would resume the bull trend. Firm support is at the 50-day EMA - it intersects at 0.8530.

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  • RES 4: 0.8852 50.0% retracement of the Mar ‘20 - Mar ‘22 bear leg
  • RES 3: 0.8762 1.00 proj of the Apr 14 - May 12 - 17 price swing
  • RES 2: 0.8721 High May 26 2021 and Jun 15 / bull trigger
  • RES 1: 0.8679 High Jul 1
  • PRICE: 0.8621 @ 06:24 BST Jul 4
  • SUP 1: 0.8551 Low Jun 30
  • SUP 2: 0.8530 50-day EMA
  • SUP 3: 0.8486 Low Jun 9
  • SUP 4: 0.8433 Low May 23

EURGBP is trading in a choppy manner but trend conditions remain bullish and a dip-buying theme was evident last Thursday’s. The cross is also trading above important support levels and moving average studies remain in a bull mode condition, highlighting an uptrend. Attention is on a retest of 0.8721, the Jun 15 high and bull trigger. A break would resume the bull trend. Firm support is at the 50-day EMA - it intersects at 0.8530.