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Support Remains Intact

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1095 High Apr 26 and key resistance
  • RES 2: 1.1054 High May 8
  • RES 1: 1.0977/1012 High Jun 27 / 22 and the bull trigger
  • PRICE: 1.0948 @ 05:38 BST Jun 28
  • SUP 1: 1.0849/04 50-day EMA / Low Jun 15
  • SUP 2: 1.0733 Low Jun 12
  • SUP 3: 1.0667 Low Jun 6
  • SUP 4: 1.0635 Low May 31 and the bear trigger

EURUSD is firmer this week but remains below last week’s high of 1.1012 (Jun 22). The latest pullback is considered corrective - for now. Key support to watch is at 1.0849, the 50-day EMA. A clear break of this average would strengthen a bearish threat and signal scope for a deeper pullback, opening 1.0804, the Jun 15 low and 1.0733, the Jun 12 low. Key resistance and the bull trigger is 1.1012. A break would resume the recent bull cycle.

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