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Remains Above Initial Support

EURUSD TECHS
  • RES 4: 1.0414 Bull channel resistance drawn from the Feb 10 high
  • RES 3: 1.0372 50-day EMA
  • RES 2: 1.0359 Low Jun 15
  • RES 1: 1.0278 High Jul 21 and a key short-term resistance
  • PRICE: 1.0274 @ 16:36 BST Aug 1
  • SUP 1: 1.0097 Low Jul 27
  • SUP 2: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 3: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing
  • SUP 4: 0.9883 1.764 projection of the Jun 9 - 15 - 27 price swing

EURUSD traded higher into the Monday close, keeping the pair above support at 1.0097, Jul 27 low, and attention is on immediate resistance at 1.0278, the Jul 21 high. A break would once again resume short-term bullish conditions and signal scope for an extension higher within the bull channel - the top intersects at 1.0414. A resumption of weakness would expose parity again and 9952, the Jul 14.

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