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Trades Through Resistance

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1122 0.764 proj of the May 31 - Jun 22 - Jul 6 pice swing
  • RES 2: 1.1095 High Apr 26 and key resistance
  • RES 1: 1.1054 High May 8
  • PRICE: 1.0990 @ 16:27 BST Jul 11
  • SUP 1: 1.0944/0898 Low Jul 10 / 20-day EMA
  • SUP 2: 1.08687 50-day EMA
  • SUP 3: 1.0834 Low Jul 6 and the bear trigger
  • SUP 4: 1.0804 Low Jun 15

EURUSD traded higher Monday, but partially reversed the Monday bounce into the close. Nonetheless, the pair has breached resistance at 1.1012, the Jun 22 high, to confirm a resumption of the uptrend that started May 31. Moving average studies remain in bull-mode position reinforcing current trend conditions. The focus is on 1.1054 next, the May 8 high, ahead of key resistance at 1.1095, the Apr 26 high. On the downside, initial firm support lies at 1.0898, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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