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Range Breakout

EURUSD TECHS
  • RES 4: 1.2414 High Apr 17, 2018
  • RES 3: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 2: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 1: 1.2218 High Jun 9
  • PRICE: 1.2101 @ 16:16 BST Jun 11
  • SUP 1: 1.2093 Low Jun 11
  • SUP 2: 1.2052 Low May 13
  • SUP 3: 1.1986 Low May 5
  • SUP 4: 1.1919 61.8% retracement of the Mar 31 - May 25 rally

EURUSD took out key short-term support ahead of the Friday close, cementing the risk of a bearish breakout. The pair took out key support at both the 50-day EMA as well as 1.2104, the Jun 4 low. This raises the risk of a bearish breakout toward the 100-dma at 1.2043. On the upside, primary resistance is unchanged at 1.2266, May 25 high.

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