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Extends Gains

  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1122 0.764 proj of the May 31 - Jun 22 - Jul 6 pice swing
  • RES 2: 1.1095 High Apr 26 and key resistance
  • RES 1: 1.1054 High May 8
  • PRICE: 1.1036 @ 05:52 BST Jul 12
  • SUP 1: 1.0944/0909 Low Jul 10 / 20-day EMA
  • SUP 2: 1.0874 50-day EMA
  • SUP 3: 1.0834 Low Jul 6 and the bear trigger
  • SUP 4: 1.0804 Low Jun 15

EURUSD continues to appreciate. This week’s break of resistance at 1.1012, the Jun 22 high, confirmed a resumption of the uptrend that started May 31. Moving average studies remain in bull-mode position reinforcing current trend conditions. The focus is on 1.1054 next, the May 8 high, ahead of key resistance at 1.1095, the Apr 26 high. On the downside, initial firm support lies at 1.0909, the 20-day EMA.

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