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Holding Above Last Week's Lows

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2285 High Jan 8
  • RES 1: 1.2266 High May 25
  • PRICE: 1.2223 @ 06:01 BST Jun 1
  • SUP 1: 1.2133/26 Low May 28 / Low May 17
  • SUP 2: 1.2052 Low May 13 and key short-term support
  • SUP 3: 1.2085 50-day EMA
  • SUP 4: 1.1986 Low May 5

EURUSD traded below the 20-day EMA Friday but managed to find support at the session low of 1.2133. The pair remains above this support. The outlook is bullish and the recent pullback is considered a correction. The focus is on 1.2285, Jan 8 high. Further out, the 2021 high of 1.2349, Jan 6 high beckons. Key short-term support is unchanged at 1.2052, May 13 low. A break of 1.2133 though would concern bulls.

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