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Clears Last Week's Lows

EURUSD TECHS
  • RES 4: 1.1965 50.0% retracement of the May - Aug sell-off
  • RES 3: 1.1945/53 High Jun 281.0% 10-dma envelope
  • RES 2: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 1: 1.1851 High Sep 8 / Sep 10
  • PRICE: 1.1792 @ 06:12 BST Sep 13
  • SUP 1: 1.1758 61.8% retracement of the Aug 20 - Sep 3 rally
  • SUP 2: 1.1735/1664 Low Aug 27 / Low Aug 20 and the bear trigger
  • SUP 3: 1.1621 1.00 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD has started the week on a softer note and has breached last week's low of 1.1802, Sep 8 low and an intraday bear trigger. This reinforces short-term bearish conditions and opens 1.1758, a Fibonacci retracement and 1.1735, the Aug 27 low. A break of 1.1735 would further strengthen a bearish case and open 1.1664, the Aug 20 low and the bear trigger. Key resistance has been defined at 1.1909, Jul 30 and Sep 3 high.

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