- EUR/USD has lost about 40 pips from daily highs in tandem with GBP/USD as British Foreign Secretary Boris Johnson resigns.
- The fall in EUR/USD coincides with broad-based USD strength. Whether it can be sustained in the long run remains to be seen but bears are trying hard to prevent EUR/USD from rising above 1.1800 level.
- A bear breakout below 1.1740, open of the week, can lead to buyers capitulation and more down while if 1.1740 remains supported higher prices can be on the cards.
EUR/USD 15-minute chart
Spot rate: 1.1758
Relative change: 0.12%
High: 1.1791
Low: 1.1740
Trend: Bullish
Resistance 1: 1.1800 figure
Resistance 2: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move
Resistance 3: 1.1900 figure
Support 1: 1.1740-1.1774 area, open of the week and intraday demand level.
Support 2 1.1700-1.1730, figure and 23.6% Fibonacci retracement from mid-April-May bear move
Support 3: 1.1672 June 27 high
Support 4: 1.1640 supply/demand level
Support 5: 1.1600 figure
Support 6: 1.1560 June 14 low
Support 7: 1.1508 current 2018 low
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