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Flat Finish

EURUSD TECHS
  • RES 4: 1.0494 Bull channel resistance drawn from the Feb 10 high
  • RES 3: 1.0449 High Jul 5
  • RES 2: 1.0359 Low Jun 15
  • RES 1: 1.0258 20-day EMA
  • PRICE: 1.0231 @ 16:01 BST Jul 22
  • SUP 1: 1.0120 Low Jul 19
  • SUP 2: 1.0064/0.9952 Low Jul 18 / 14
  • SUP 3: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing
  • SUP 4: 0.9883 1.764 projection of the Jun 9 - 15 - 27 price swing

EURUSD’s brief post-ECB rally stalled and fully reversed into the Thursday close, putting the pair flat through the London fix. The 20-day EMA resistance at 1.0258 was pierced, but the lack of a clear break higher keeps the technical picture unchanged for now. This keeps attention on the 20-day EMA. A clear breach here strengthens bullish conditions and signals scope for an extension within the bear channel. The channel is drawn from the Feb 10 high. Initial support is at 1.0120, Tuesday’s intraday low.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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