EURUSD TECHS: Bear Cycle Extension

* RES 4: 1.1654 High Sep 9 * RES 3: 1.1612 High Sep 14 * RES 2: 1.1549 50-day EMA * RES 1: 1.1498 High Sep 17 * PRICE: 1.1395 @ 15:35 BST Sep 23 * SUP 1: 1.1384 Intraday low * SUP 2: 1.1353 Low Jul 28 * SUP 3: 1.1325 Low Jun 24 and a key medium-term support * SUP 4: 1.1225 Bear channel base drawn from the Apr 17 high EURUSD continues to weaken and a bear theme remains intact. Today's move down marks an acceleration of the bear cycle as the pair continues to retrace the bull cycle between Jun 24 and Aug 20. 1.1416, the 76.4% retracement of the Jun 24 - Aug 20 bull leg, has been cleared. A confirmed breach exposes 1.1325, the Jun 24 low and a key M/T support. Initial firm resistance to watch is 1.1549, the 50-day EMA.