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Clears Support

EURUSD TECHS
  • RES 4: 1.1229 High Jul 20
  • RES 3: 1.1150 High Jul 27
  • RES 2: 1.1065 High Aug 10
  • RES 1: 1.0992 20-day EMA
  • PRICE: 1.0911 @ 05:41 BST Aug 15
  • SUP 1: 1.0875 Low Aug 14
  • SUP 2: 1.0834 Low Jul 6 and a key support
  • SUP 3: 1.0804 Low Jun 151
  • SUP 4: 1.0752 Bull channel base drawn from the Mar 15 low

EURUSD traded lower Monday, reinforcing bearish conditions. The pair has cleared support at 1.0912, the Aug 3 low, to confirm a resumption of the bear cycle that started on Jul 18. This signals scope for weakness towards 1.0834 next, the Jul 6 low and a key level. Price is also trading lower inside a bull channel drawn from Mar 15 low. The base of the channel lies at 1.0752. Key short-term resistance is at 1.1065, the Aug 10 high.

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