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Probes Initial Support

EURUSD TECHS
  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.1962/75 50-day EMA / High Jun 25
  • RES 2: 1.1930 High Jun 29
  • RES 1: 1.1851/1881 High Jul 15 / High Jul 9
  • PRICE: 1.1805 @ 16:26 BST Jul 19
  • SUP 1: 1.1764 Low Jul 19
  • SUP 2: 1.1738 Low Apr 5
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD traded lower Monday and has probed support at 1.1772, Jul 13, 14 low. The outlook is bearish. The pair traded lower Jul 13 to resume its downtrend, breaching 1.1782, Jul 7 low. Last week's move lower maintains the current bearish price sequence of lower lows and lower highs and has exposed 1.1704, Mar 31 low. Initial firm resistance is at 1.1851, the July 15 high. The focus is on 1.1738, Apr 5 low.

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