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Clears Support

EURUSD TECHS
  • RES 4: 1.2034 50-day EMA
  • RES 3: 1.2006 High Jun 29 / Jun 17
  • RES 2: 1.1930/1975 High Jun 29 / High Jun 25
  • RES 1: 1.1909 High Jun 30
  • PRICE: 1.1824 @ 11:10 BST Jul 2
  • SUP 1: 1.1795 Low Apr 6
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD continues to trade lower. The pair has cleared 1.1848, the Jun 18, 21 lows and 1.1837, 76.4% of the Mar 31 - May 25 rally. The clearance of these support levels reinforces the current bearish theme and signals scope for weakness towards 1.1795 next, Apr 6 low en-route to the key support at 1.1704, Mar 31 low. On the upside, key short-term resistance has been defined at 1.1975, Jun 25 high. Initial resistance is at 1.1909, Jun 30 high.

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