- EUR/USD appears to have met tough resistance above 1.1730 in early trade, sparking the ongoing knee-jerk to the 1.1670 region.
- A breakout of the immediate target in the 1.1745/50 band should pave the way for a re-test of 1.1790 ahead of June’s peaks in the mid-1.1800s.
- On the downside, the 55-day SMA at 1.1614 should offer interim support ahead of the 21-day SMA at 1.1537. The critical area, however, remains the 1.1500 neighbourhood, which should spark another bout of EUR-weakness to the 1.1300 region if cleared.
Daily high: 1.1698
Daily low: 1.1665
Support Levels
S1: 1.1660
S2: 1.1626
S3: 1.1589
Resistance Levels
R1: 1.1732
R2: 1.1769
R3: 1.1803
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