Free Trial

Heading South

EURUSD TECHS
  • RES 4: 1.0774 High Jun 9
  • RES 3: 1.0615 High Jun 27 and a key resistance
  • RES 2: 1.0556 Bull channel resistance drawn from the Feb 10 high
  • RES 1: 1.0359/0438 Low Jun 15 / 20-day EMA
  • PRICE: 1.0152 @ 06:12 BST Jul 8
  • SUP 1: 1.0140 Intraday low
  • SUP 2: 1.0102 1.236 projection of the Jun 9 - 15 - 27 price swing
  • SUP 3: 1.0018 Bear channel base drawn from the Feb 10 high
  • SUP 4: 1.0000 Parity and a key psychological support

EURUSD trend conditions remain bearish following this week’s move lower. Tuesday's impulsive sell-off resulted in a break of 1.0350, May 13 low, to confirm a resumption of the primary downtrend. This week’s sell-off also highlights an acceleration of the downtrend. The focus is on 1.0102, a Fibonacci projection. Firm resistance is seen at 1.0438, 20-day EMA. Initial resistance is at 1.0359.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.