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Through Bear Trigger

EURUSD TECHS
  • RES 4: 1.2006 High Jun 29 / Jun 17
  • RES 3: 1.1948/75 38.2% of the May 25 - Jul 21 sell-off / High Jun 25
  • RES 2: 1.1930 High Jun 29
  • RES 1: 1.1899 50-day EMA
  • PRICE: 1.1751 @ 16:44 BST Aug 09
  • SUP 1: 1.1741 Low Aug 09
  • SUP 2: 1.1738 Low Apr 05
  • SUP 3: 1.1704 Low Mar 31 and a key support
  • SUP 4: 1.1603 Low Nov 04, 2020

EURUSD printed a lower low Monday, extending the downtick from Monday's sell-off. This puts the pair below the July 21 low of 1.1752, opening scope for losses toward levels not seen since April/March. For bulls to regain control, markets need to test the 50-day EMA at 1.1899. This average represents a key short-term resistance. A clear break is required to signal scope for a more significant reversal.

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