Free Trial

EURUSD TECHS: Trend Needle Points North

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: 1.0886 @ 15:42 BST Jul 19
  • SUP 1: 1.0872 Low Jul 16  
  • SUP 2: 1.0828/1.0736 20-day EMA / Low Jul 3
  • SUP 3: 1.0666 Low Jun 26 and the bear trigger
  • SUP 4: 1.0650 Low May 1

A bull cycle in EURUSD remains in play and Wednesday’s gains reinforce this theme. Key short-term resistance at 1.0916, the Jun 4 high, has been cleared confirming a resumption of the bull cycle. The break paves the way for a climb towards 1.0964, the Mar 13 high, ahead of a key short-term resistance at 1.0981, the Mar 8 high. On the downside, firm short-term support lies at 1.0828, the 20-day EMA.  

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.