FX June 26, 2020 / 07:21 am UTC

Chart EUR/USD Update: Prices Remain Under Pressure

By Mike Macdonald


R41.1423**June 10 (weekly) high
S21.1168*June 19-22 lows
R21.1350*Break level
S31.1148*March 28 high
S41.1125*38.2% retracement of March-June rally

Asterisk denotes strength of level

08:15 BST - There has not been a change and prices are extending the consolidation around 1.1200. However, daily readings continue to deteriorate, highlighting the risk of a later break toward the 1.1148 break level from March 28. A close beneath here wouls confirm a continuation of the June 10 fall. Meanwhile, an unexpected close above 1.1250 will delay downside tests and turn price action cautiously Neutral.

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