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Trading At Recent Lows

EURUSD TECHS
  • RES 4: 1.2147 High Jun 15
  • RES 3: 1.2034 50-day EMA
  • RES 2: 1.2006 High Jun 29 / Jun 17
  • RES 1: 1.1930/1975 High Jun 29 / High Jun 25
  • PRICE: 1.1846 @ 05:53 BST Jul 2
  • SUP 1: 1.1837 76.4% retracement of the Mar 31 - May 25 rally
  • SUP 2: 1.1795 Low Apr 6
  • SUP 3: 1.1738 Low Apr 5
  • SUP 4: 1.1704 Low Mar 31 and a key support

EURUSD is trading at recent lows. The pair has probed support at 1.1848, Jun 18, 21 lows and the bear trigger and the outlook remains bearish. A clear break of 1.1848 would confirm a resumption of the downleg that started on May 25. Attention is also on 1.1837, a Fibonacci retracement where a break would open 1.1704, Mar 31 low and a key support. Initial firm resistance is 1.1975, the Jun 25 high.

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