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Narrows Gap With Trend Channel Top

EURUSD TECHS
  • RES 4: 1.0536 High Jun 29
  • RES 3: 1.0488 High Jun 30
  • RES 2: 1.0449 High Jul 5
  • RES 1: 1.0352 Bull channel resistance drawn from the Feb 10 high
  • PRICE: 1.0335 @ 15:10 BST Aug 10
  • SUP 1: 1.0202 Intraday low
  • SUP 2: 1.0097 Low Aug 27 and key short-term support
  • SUP 3: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 4: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing

EURUSD traded higher following the July US CPI release. The pair has traded above resistance at 1.0294, the Aug 2 high and is challenging the 50-day EMA, at 1.0331. The resumption of gains signals scope for an extension higher within the bull channel - the top is at 1.0352 and this level represents a key resistance - a break would strengthen bullish conditions. Weakness below 1.0097 instead exposes parity and 0.9952, Jul 14 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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