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Clears Resistance

EURUSD TECHS
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance
  • RES 3: 1.1084 High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0983 @ 16:07 BST Aug 5
  • SUP 1: 1.0893 Low Aug 5
  • SUP 2: 1.0842 20-day EMA
  • SUP 3: 1.0821 50-day EMA
  • SUP 4: 1.0778 Low Aug 1 and a key support

Friday’s strong rally in EURUSD resulted in a break of resistance at 1.0870, the Jul 25 / 29 high. Monday’s gains mark an extension of Friday's rally and this has resulted in a break of key short-term resistance and the bull trigger at 1.0948, the Jul 17 high. The move higher resumes the uptrend and opens 1.1012 next, a Fibonacci retracement. On the downside, key short-term support has been defined at 1.0778, last Thursday’s low.

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