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Parity Gives Way

EURUSD TECHS
  • RES 4: 1.0530 Bull channel resistance drawn from the Feb 10 high
  • RES 3: 1.0449 High Jul 5
  • RES 2: 1.0318/59 20-day EMA / Low Jun 15
  • RES 1: 1.0122/0191 High Jul 13 / High Jul 8
  • PRICE: 1.0015 @ 16:18 BST Jul 14
  • SUP 1: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing
  • SUP 2: 0.9883 1.764 projection of the Jun 9 - 15 - 27 price swing
  • SUP 3: 0.9863 Dec 2002 low
  • SUP 4: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing

EURUSD trend conditions remain bearish and the pair has resumed its slide once again. Support at parity and 0.9982, the base of the bear channel drawn from the Feb 10 high, were cleared Thursday. This strengthens the current bearish case and attention turns to 0.9944, a Fibonacci projection level. A breach of this level would open 0.9883. Initial resistance has been defined at 1.0122, Wednesday’s high.

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