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Resistance Remains Intact

EURUSD TECHS
  • RES 4: 1.0916 High Jun 04 and the bull trigger
  • RES 3: 1.0852 High High Jun 12
  • RES 2: 1.0784 50-day EMA
  • RES 1: 1.0761 High Jun 18
  • PRICE: 1.0737 @ 05:39 BST Jun 25
  • SUP 1: 1.0668 Low Jun 14
  • SUP 2: 1.0650 Low May 1
  • SUP 3: 1.0601 Low Apr 16 and a key support
  • SUP 4: 1.0568 Low Nov 2

The short-term trend condition in EURUSD remains bearish. Resistance is intact and gains are considered corrective. The recent breach of support at 1.0720, the Jun 11 low, strengthened a bearish theme and note too that 1.0675, 76.4% of the Apr 16 - Jun 4 bull leg, has been pierced. A clear break of this level would open 1.0650 next, the May 1 low. Key resistance is at 1.0852, the Jun 12 high. Initial firm resistance is 1.0784, the 50-day EMA.

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