The pair has paid some good pips since posting and has respected each support zone with precision. Following the close below 1.5618 the pair sold off after reaching a high of 1.5619 on the 23rd and that drop on the 23rd of May also took out the 1.5480 handle and this level served as resistance since late last week, but the bulls failed to close price above this handle. Moving forward to yesterday’s session (Friday, 1 June), the bulls once again struggled to close above. The pair could provide an opportunity early in the new week for bears to take another sell on a retest (if any) of the 1.5480 handle. The first key support is at 1.5340.

EURAUD - BULLS STRUGGLING - 2 JUNE

Source: MARYNA MURRAY

Leave a Reply