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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: 1.1933 @ 15:48 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 Wednesday and the pair remains under pressure. 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.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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