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EURUSD TECHS
  • RES 4: 1.1007 High May 10
  • RES 3: 1.0935 High May 12
  • RES 2: 1.0860/64 20- and 50-day EMA values
  • RES 1: 1.0831 High May 22
  • PRICE: 1.0710 @ 16:27 BST May 29
  • SUP 1: 1.0702 Low May 26
  • SUP 2: 1.0653 76.4% retracement of the Mar 15 - Apr 26 bull run
  • SUP 3: 1.0631 Low Mar 20
  • SUP 4: 1.0608 Low Mar 17

EURUSD remains soft and traded lower again Friday, reinforcing bearish conditions and confirming an extension of the bear cycle. The 1.0713 objective has been breached, the Mar 24 low. This signals scope for an extension towards 1.0653 next, a Fibonacci retracement point. A firm resistance is seen at 1.0860, the 20-day EMA. Clearance of this average is required to ease current bearish pressure.

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