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Trend Needle Points North

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 2022
  • RES 3: 1.1095 High Apr 26 and key resistance
  • RES 2: 1.1054 High May 8
  • RES 1: 1.0986 61.8% retracement of the Apr 26 - May 31 downleg
  • PRICE: 1.0951 @ 16:44 BST Jun 21
  • SUP 1: 1.0864 High Jun 14
  • SUP 2: 1.0827/0804 20-day EMA / Low Jun 15
  • SUP 3: 1.0733 Low Jun 12
  • SUP 4: 1.0667/35 Low Jun 6 / Low May 31 and the bear trigger

A bullish theme in EURUSD remains intact and the pair is trading closer to its recent highs. Price rallied sharply higher last week, extending the bull cycle that started at 1.0635 on May 31. A number of important retracement points have been cleared, reinforcing bullish conditions and this opens 1.0986, 76.4% of the Apr 26 - May 31 downleg. Clearance of this level would expose 1.1054, the May 8 high. Initial firm support is 1.0804, the Jun 15 low.

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