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EURUSD TECHS: Trading Closer To Its Recent Highs

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: 1.0812 @ 16:47 BST Jul 9
  • SUP 1: 1.0769/10 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 

A bullish theme in EURUSD remains in play and price continues to trade closer to its recent highs. The breach last week of the 50-day EMA, undermines the recent bearish theme and instead signals scope for an extension with the focus on 1.0852 next, 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 1.0769, the 20-day EMA. 

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