Firm Bounce Puts Price Back Above 50-Day EMA

• RES 4: 1.1095 High Apr 26 and key resistance
• RES 3: 1.1054 High May 8
• RES 2: 1.0977/1012 High Jun 27 / 22 and the bull trigger
• RES 1: 1.0941 High Jun 30
• PRICE: 1.0913 @ 15:23 BST Jun 30
• SUP 1: 1.0835/04 Intraday low / Low Jun 15
• SUP 2: 1.0733 Low Jun 12
• SUP 3: 1.0667 Low Jun 6
• SUP 4: 1.0635 Low May 31 and the bear trigger

EURUSD initially traded lower Friday, before bouncing sharply into the London close. For any reversal higher to take hold, markets need to refocus attention on resistance at 1.0977, the Jun 27 high and 1.1012, the Jun 22 high. Any resumption of the week’s late pullback would re-engage support at the 50-day EMA, at 1.0855. A break below here would signal scope for a continuation lower with sights on 1.0804 next, the Jun 15 low. The pullback is still considered corrective.