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EURUSD TECHS: Fades Off Highs, But Support Further Out

EURUSD TECHS
  • RES 4: 1.1055 1.236 projection of the Apr 16 - Jun 4 - 26 price swing   
  • RES 3: 1.0981 High Mar 3 and a key resistance 
  • RES 2: 1.0964 High Mar 13
  • RES 1: 1.0948 High Jul 17
  • PRICE: 1.0845 @ 08:12 BST Jul 24
  • SUP 1: 1.0845/42 20-day EMA / Low Jul 24
  • SUP 2: 1.0736 Low Jul 3
  • SUP 3: 1.0666 Low Jun 26 and the bear trigger
  • SUP 4: 1.0650 Low May 1

The bull cycle in EURUSD has faded over the first two sessions of the week, with prices returning lower in a corrective pullback. This keeps key short-term resistance at 1.0964, the Mar 13 high, intact for now ahead of a key short-term resistance at 1.0981, the Mar 8 high. On the downside, firm short-term support lies at 1.0845, the 20-day EMA - pierced, but not yet broken on this week’s weakness.

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