- EUR/USD bulls surprised bears as they manage to create a bullish reversal from the 1.1600 figure. Buyers have now surpassed the 1.1650 psychological level and the 50 and 100-period simple moving average.
- A bull breakout above the current daily high at 1.1665 would be seen as strongly bullish. Scaling points to the upside are likely located near 1.1677 and the 1.1700 figure.
Spot rate: 1.1659
Relative change: -0.02%
High: 1.1665
Low: 1.1602
Trend: Neutral to bullish
Resistance 1: 1.1672 June 27 high
Resistance 2: 1.1700 figure
Resistance 3: 1.1730-1.1740 area, 23.6% Fibonacci retracement from mid-April-May bear move and last week’s open.
Resistance 4: 1.1790 last week’s high
Resistance 5: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Support 1: 1.1640-1.1649 area, key level and July 12 low
Support 2: 1.1600-1.1613 figure and last week’s low
Support 3: 1.1560 June 14 low
Support 4: 1.1508 current 2018 low
Share
