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$1.1700 capped EUR/USD on Wednesday,....>

EURO-DOLLAR
EURO-DOLLAR: $1.1700 capped EUR/USD on Wednesday, chunky strikes between $1.1670
& $1.1685 provided a magnet in the morning, ahead of the 10AM NY cut, with the
pair having little reaction to a soft round of final EZ M'fing PMIs.
- The pair last deals at $1.1665, heading back to the bottom end of the
consolidation range following yesterday's failed breakout and bearish reversal.
Triangle support is placed at 1.1602. A break below here would trigger the next
bearish signal opening the way for the resumption of the major down trend.
Intervening support is placed at 1.1620. Initial resistance is now placed at
1.1700 ahead of the 1.1744 level. Overcoming 1.1744 has now become key to
provide renewed stability.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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