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Holding Above 1.1800

EURO-DOLLAR TECHS
  • RES 4: 1.2000 Psychological round number
  • RES 3: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 2: 1.1916 High Aug 6
  • RES 1: 1.1883 High Aug 7
  • PRICE: 1.1856 @ 05:11 BST Aug 17
  • SUP 1: 1.1782 Low Aug 13 1nd 14
  • SUP 2: 1.1696 Low Aug 3 and key support
  • SUP 3: 1.1711/1639 20-day EMA / Low Jul 27
  • SUP 4: 1.1581 Low Jul 24

EURUSD is holding onto gains achieved last week but remains below the cycle highs printed Aug 6. An ability to remain above the 1.1800 handle would maintain the focus on key resistance at 1.1916 where a break is required to confirm a resumption of the underlying uptrend. On the downside, August activity has so far defined a key support at 1.1696, Aug 3 low where a break would instead signal a short-term reversal.

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