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Directional Signals Point South

  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.1968 50-day EMA
  • RES 2: 1.1930/1975 High Jun 29 / High Jun 25
  • RES 1: 1.1881 High Jul 9
  • PRICE: 1.1809 @ 06:04 BST Jul 16
  • SUP 1: 1.1772 Low Jul 13 and 14 and the bear trigger
  • 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 was offered Thursday and a bearish tone remains intact. The pair traded lower on Jul 13 to resume its downtrend, breaching 1.1782, Jul 7 low. This week's move lower maintains the current bearish price sequence of lower lows and lower highs and has exposed 1.1704, Mar 31 low. Key short-term resistance has been defined at 1.1975, Jun 25 high. Initial firm resistance is at 1.1881, the July 9 high.

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