Trial now
USDCAD TECHS

Bear Leg Extends

AUDUSD TECHS

Northbound

ARGENTINA

August Economic Activity Rises 1.1% M/m

Focus Is On The 50-Day EMA

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 1: 1.2214 High Jun 3
  • PRICE: 1.2199 @ 16:57 BST Jun 7
  • SUP 1: 1.2104/2099 Low Jun 4 / 50-day EMA
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.1986 Low May 5
  • SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD is trading above last week's low of 1.2104. The pair remains vulnerable though following a sharp pullback Jun 3 that saw price trade below initial support at 1.2133, May 28 low. Recent price action has also highlighted a short-term top at 1.2265, May 25 high and this signals scope for a deeper corrective pullback. The focus is on the 50-day EMA at 1.2099 that also represents a key area of support.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com