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EURUSD TECHS: Bull Cycle Extends

EURUSD TECHS
  • RES 4: 1.0943 High Jan 21  
  • RES 3: 1.0916 High Jun 04 and the bull trigger
  • RES 2: 1.0852 High Jun 12 
  • RES 1: 1.0842 High Jul 05
  • PRICE: 1.0824 @ 16:15 BST Jul 5
  • SUP 1: 1.0755/0666 20-day EMA / Low Jun 26 and the bear trigger 
  • SUP 2: 1.0650 Low May 1
  • SUP 3: 1.0601 Low Apr 16 and a key support
  • SUP 4: 1.0568 Low Nov 2  

A bullish theme in EURUSD remains in play. The pair is again trading higher as it extends this week’s recovery. The move above 1.0772, the 50-day EMA, undermines the recent bearish theme and instead signals scope for further gains with the focus on 1.0852 next, the Jun 12 high. For bears, a resumption of weakness would refocus attention on the bear trigger at 1.0666, the Jun 26 low. Initial support to watch lies at 1.0755, the 20-day EMA. 

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