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Holding Above Recent 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: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 1: 1.2218 High Jun 9
  • PRICE: 1.2187 @ 16:51 BST Jun 9
  • SUP 1: 1.2105/2105 50-day EMA / Low Jun 4 and key S/T support
  • SUP 2: 1.2052 Low May 13
  • SUP 3: 1.1986 Low May 5
  • SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD is unchanged and trading above last week's low of 1.2104. The pair remains vulnerable though following a sharp pullback Jun 3 that saw price trade through initial support at 1.2133, May 28 low. This highlights potential for a deeper correction and attention is on the 50-day EMA at 1.2105 that also represents a key area of support. On the upside, primary resistance has been defined at 1.2266, May 25 high.

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