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Corrective Pullback

  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1095 High Apr 26 and key resistance
  • RES 2: 1.1054 High May 8
  • RES 1: 1.1012 High Jun 22
  • PRICE: 1.0932 @ 05:34 BST Jun 23
  • SUP 1: 1.0893 Low Jun 20
  • SUP 2: 1.0853/0804 20-day EMA / Low Jun 15
  • SUP 3: 1.0733 Low Jun 12
  • SUP 4: 1.0667/35 Low Jun 6 / Low May 31 and the bear trigger

A bullish theme in EURUSD remains intact and the latest pullback is considered corrective. The pair traded higher Thursday and this confirms a resumption of the uptrend. Price also traded through 1.0986, 61.8% of the Apr 26 - May 31 downleg. A clear break of this level would signal scope for 1.1054, the May 8 high, ahead of key resistance at 1.1095, the Apr 26 high. Firm short-term support has been defined at 1.0893, the Jun 20 low.

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