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EURUSD TECHS: Bull Cycle Remains In Play

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: 1.0845 High Jul 08
  • PRICE: 1.0825 @ 16:24 BST Jul 10
  • SUP 1: 1.0773/10 20-day EMA / Low Jul 2   
  • SUP 2: 1.0666 Low Jun 26 and the bear trigger
  • SUP 3: 1.0650 Low May 1
  • SUP 4: 1.0601 Low Apr 16 and a key support 

EURUSD traded very modestly higher into the close. A bullish theme remains intact and price is trading  closer to its recent highs and above the 50-day EMA. The breach of the average undermines a recent bearish theme and signals scope for an extension towards 1.0852, the Jun 12 high. For bears, a resumption of weakness would refocus attention on the key support at 1.0666, Jun 26 low. Initial support to watch lies at 1.0773, the 20-day EMA. 

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  • 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: 1.0845 High Jul 08
  • PRICE: 1.0825 @ 16:24 BST Jul 10
  • SUP 1: 1.0773/10 20-day EMA / Low Jul 2   
  • SUP 2: 1.0666 Low Jun 26 and the bear trigger
  • SUP 3: 1.0650 Low May 1
  • SUP 4: 1.0601 Low Apr 16 and a key support 

EURUSD traded very modestly higher into the close. A bullish theme remains intact and price is trading  closer to its recent highs and above the 50-day EMA. The breach of the average undermines a recent bearish theme and signals scope for an extension towards 1.0852, the Jun 12 high. For bears, a resumption of weakness would refocus attention on the key support at 1.0666, Jun 26 low. Initial support to watch lies at 1.0773, the 20-day EMA.