EURUSD
The Euro trades in a triangular consolidation after posting fresh low at 1.3294 and corrective action being capped at 1.3450. Overall tone in the near-term remains negative, as the price lacked momentum for more significant recovery towards 1.3550/60 breakpoint, regain of which is required to signal stronger recovery and shift focus higher. For now, the downside remains vulnerable, with break below triangle support at 1.3355, seen as a trigger for fresh weakness towards key near-term support and low of 07/11 at 1.3294. Violation of the latter to signal resumption of larger downtrend from 1.3831 and open 1.3214/00, 200DMA / round-figure support. Conversely, attempts above triangle resistance at 1.3415, also session highs, would provide temporary relief, however, clearance of 1.3450, recovery high and 61.8% of 1.3546/1.3294 fall, is required to avert immediate downside risk.
Res: 1.3415; 1.3448; 1.3500; 1.3546
Sup: 1.3355; 1.3316; 1.3293; 1.3275
GBPUSD
Cable remains under pressure, as last week
Linear Mode
