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Rallies Faded

EURUSD TECHS
  • RES 4: 1.1965 50.0% retracement of the May - Aug sell-off
  • RES 3: 1.1945/53 High Jun 281.0% 10-dma envelope
  • RES 2: 1.1909 High Jul 30 / Sep 03 and a key resistance
  • RES 1: 1.1851 High Sep 8 / Sep 10
  • PRICE: 1.1820 @ 16:12 BST Sep 14
  • SUP 1: 1.1770/58 Low Sep 13 / 61.8% of the Aug 20 - Sep 3 rally
  • SUP 2: 1.1735/1664 Low Aug 27 / Low Aug 20 and the bear trigger
  • SUP 3: 1.1621 1.00 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1603 Low Nov 4, 2020

EURUSD started the week on a softer note, but got a minor reprieve after softer-than-expected August CPI data. This rally was short-lived, however, resulting in the rate retracing back to flat and keeping focus on the downside argument. The focus is on 1.1758, a Fibonacci retracement and 1.1735, the Aug 27 low. A break of 1.1735 would strengthen a bearish case and open 1.1664, Aug 20 low and the bear trigger. Key resistance is unchanged at 1.1909, Jul 30 and Sep 3 high.

Foreign Exchange Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepageBond Market Newsmarkets-real-timeBulletMarketsForeign Exchange Bullets

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