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Testing Support

EURUSD TECHS
  • RES 4: 1.0964 High Mar 13
  • RES 3: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
  • RES 2: 1.0916 High Jun 04 and the bull trigger
  • RES 1: 1.0852/70 High Jun 12 / 76.4% of the Jun 4 - 11 sell-off
  • PRICE: 1.0725 @ 08:10 BST Jun 14
  • SUP 1: 1.0716 Intraday low
  • SUP 2: 1.0675 76.4% retracement of the Apr 16 - Jun 4 bull leg
  • SUP 3: 1.0650 Low May 1
  • SUP 4: 1.0601 Low Apr 16 and a key support

EURUSD has not managed to hold on to Wednesday’s rally and yesterday’s sell-off has reversed those gains. This has exposed support at 1.0720, the Jun 11 low. It has been pierced, a clear break would reinstate a recent bearish theme and pave the way for an extension towards 1.0675, a Fibonacci retracement. Key short-term resistance has been defined at 1.0852, Wednesday’s high. Clearance of this level would be bullish.

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