Free Trial

$1.1723 Resistance Remains Key....>

EURO-DOLLAR TECHS: $1.1723 Resistance Remains Key
*RES 4: $1.1691 Daily Bear Channel top off Apr 19 high
*RES 3: $1.1665 21-DMA
*RES 2: $1.1644 Hourly resistance June 27
*RES 1: $1.1600 High June 28
*PRICE: $1.1568 @ 0430GMT
*SUP 1: $1.1625 Hourly support June 29 
*SUP 2: $1.1600 High June 28 now support 
*SUP 3: $1.1575 Hourly resistance June 29 now support 
*SUP 4: $1.1506 2018 Low May 29
*COMMENTARY: The failure around the 21-DMA and bear channel top has seen
pressure return to the 2018 low ($1.1506). Bears look for a close below $1.1506
to shift immediate focus to $1.1311 although 100 ($1.1434) & 200 ($1.1399) WMAs
may support along the way. Bulls now need a close above $1.1723 to confirm
breaks of the 21-DMA and bear channel top and initially target $1.1854-1.1901.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.