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EURUSD TECHS: Approaching Key Support

EURUSD TECHS
  • RES 4: 1.1300 Round number resistance  
  • RES 3: 1.1276 High Jul 18 2023
  • RES 2: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 1: 1.1155/1202 High Sep 6 / High Aug 26 and the bull trigger  
  • PRICE: 1.1035 @ 15:44 BST Sep 09
  • SUP 1: 1.1026 Low Sep 03  
  • SUP 2: 1.0990 50.0% retracement of the Aug 1 - 26 bull leg
  • SUP 3: 1.0975 50-day EMA
  • SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg

EURUSD traded in a volatile manner Friday and the pair started the week on a bearish note, trading lower. For now, a bullish theme is intact, following last week’s recovery. Note too that moving average studies are in a bull-mode position, highlighting an uptrend. A resumption of gains would open 1.1202, the Aug 26 high and bull trigger. The 20-day EMA has been breached, again. The next key support to watch lies at 1.1026, the Sep 3 low.   

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