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Tests Key Short-Term 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: 1.1051 20-day EMA
  • PRICE: 1.1010 @ 05:42 BST Jul 31
  • SUP 1: 1.0964/44 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 following last week’s move lower and Thursday’s sharp sell-off. The move down reinforces a short-term bearish theme. The pair has pierced support at the 50-day EMA at 1.0974 and a trendline support at 1.0964, 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 at last Thursday’s 1.1150 high.

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