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EURUSD TECHS: Soft Start

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: 1.0831 @ 08:21 BST Jul 25
  • SUP 1: 1.0828 Low Jul 25
  • 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

EUR/USD trades again softer early Thursday, printing a new pullback low and breaking below the 20-day EMA in the process. This cements the fade of the previously dominant bull cycle in EURUSD, and keeps short-term resistance at 1.0964, the Mar 13 high, intact for now. The key upside level remains 1.0981, the Mar 8 high. On the downside, a break below the 1.08 handle opens 1.0736 for direction. 

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