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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: 1.0884 @ 08:17 BST Jul 23
  • SUP 1: 1.0872/73 Low Jul 16 / Jul 22
  • 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.  

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