Free Trial

Remains Under Pressure

EURUSD TECHS
  • RES 4: 1.2349/53 High Jan 6 / High Apr 20, 2018
  • RES 3: 1.2266/85 High May 25 and the bull trigger / High Jan 8
  • RES 2: 1.2218 High Jun 9
  • RES 1: 1.2147 High Jun 15
  • PRICE: 1.1937 @ 13:16 BST Jun 17
  • SUP 1: 1.1919 61.8% retracement of the Mar 31 - May 25 rally
  • SUP 2: 1.1893 2.0% 10-dma envelope
  • SUP 3: 1.1867 Low Apr 9
  • SUP 4: 1.1837 76.4% retracement of the Mar 31 - May 25 rally

EURUSD fell sharply yesterday and the pair remains under pressure today. The recent breach of the 50-day EMA and 1.2104, Jun 4 low highlights a bearish theme and yesterday's sell-off also confirmed a recent bear flag formation following the consolidation earlier this week. The focus is on 1.1919 and 1.1837, Fibonacci retracements. On the upside, initial resistance is at 1.2006, today's intraday high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.