Free Trial

Off Lows, But Bear Threat Remains Present

EURUSD TECHS
  • RES 4: 1.1355 1.382 proj of the May 31 - Jun 22 - Jul 7 price swing
  • RES 3: 1.1313 High Feb 24 2022
  • RES 2: 1.1276 High Jul 18 and the bull trigger
  • RES 1: 1.1147/1229 High Jul 24 / 20
  • PRICE: 1.1104 @ 05:45 BST Jul 27
  • SUP 1: 1.1021 Low Jul 25
  • SUP 2: 1.1012/04 High Jun 22 / Low Jul 12
  • SUP 3: 1.0972 50-day EMA
  • SUP 4: 1.0949 Trendline support drawn from the May 31 low

The latest recovery in EURUSD concludes the recent six-session losing streak. The recent move down is considered corrective, however, price has traded through the 20-day EMA and this continues to signal scope for a deeper short-term retracement, potentially towards the 50-day EMA at 1.0972. On the upside, the key resistance and bull trigger is unchanged at 1.1276, the Jul 18 high. First resistance is at 1.1147, the Jul 24 high.

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.