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Testing Key Support

EURUSD TECHS
  • RES 4: 1.1313 High Feb 24 2022
  • RES 3: 1.1276 High Jul 18 and the bull trigger
  • RES 2: 1.1150/1229 High Jul 27 / 20
  • RES 1: 1.1040 20-day EMA
  • PRICE: 1.0983 @ 05:52 BST Aug 2
  • SUP 1: 1.0979/44 Trendline support from May 31 low / Low Jul 28
  • SUP 2: 1.0867 Low Jul 7
  • SUP 3: 1.0834 Low Jul 6 and a key support
  • SUP 4: 1.0804 Low Jun 15

EURUSD maintains a softer tone and the pair continues to trade closer to last week’s lows. Support the 50-day EMA which intersects at 1.0975, and a trendline support at 1.0979, remain exposed. The trendline is drawn from the May 31 low. A clear break of both levels would strengthen a bearish threat and open 1.0867, the Jul 7 low. First key resistance is seen at 1.1150, the Jul 27 high.

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