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EURUSD TECHS: Tests Resistance

EURUSD TECHS
  • RES 4: 1.0916 High Jun 04 and the bull trigger
  • RES 3: 1.0852 High High Jun 12
  • RES 2:  1.0791/0820 50.0% and 61.8% of the Jun 4 - 26 downleg  
  • RES 1: 1.0772/76 50-day EMA / Intraday high 
  • PRICE: 1.0725 @ 16:26 BST Jul 1
  • SUP 1: 1.0711/0666  Intraday low / 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  

EURUSD has started this week’s session on a firmer note. Note that the trend outlook is bearish and gains are considered corrective - for now. MA studies are in a bear-mode set-up highlighting a downtrend. Resistance to watch is 1.0772, the 50-day EMA. It has been pierced, a clear would threaten the bearish theme and signal scope for a stronger recovery towards 1.0820, 61.8% of the Jun 4 - 26 downleg. The bear trigger lies at 1.0666, Jun 26 low.

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