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- RES 4: 1.2030 2.0% 10-dma envelope
- RES 3: 1.2000 Psychological round number
- RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
- RES 1: 1.1916 High Aug 6
- PRICE: 1.1813 @ 04:22 BST Aug 13
- SUP 1: 1.1696 Low Aug 3
- SUP 2: 1.1698/1639 20-day EMA / Low Jul 27
- SUP 3: 1.1581 Low Jul 24
- SUP 4: 1.1541 Low Jul 23
EUR/USD remains at the lower end of the August range, although the pair briefly hit a new weekly high above $1.18. Nonetheless, August highs at 1.1916 are out of reach for now. The August at 1.1696 remains a cue for a move lower and a break below opens late July lows of 1.1639. It seems the momentum behind the July rally has now all but faded, leaving bulls with the tough task of closing above 1.19 to reignite any impulsive higher from here. This makes a period of consolidation the most likely outcome.