Free Trial

$1.1810-62 Resistance Key *RES....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: $1.1810-62 Resistance Key
*RES 4: $1.1862 Low Sept 20 now resistance 
*RES 3: $1.1833 Low Sept 25 now resistance 
*RES 2: $1.1810 Hourly resistance Sept 27a 
*RES 1: $1.1777 Hourly resistance Sept 27
*PRICE: $1.1730 @ 0430GMT
*SUP 1: $1.1709 Low Aug 18 
*SUP 2: $1.1661 Low Aug 17 
*SUP 3: $1.1611 Low July 26 
*SUP 4: $1.1583 High July 18 now support
*COMMENTARY: Losses have defined the week so far with bears taking comfort in
the pair gaining traction below the 55-DMA ($1.1809) and focus having shifted to
layers of support $1.1583-1.1661. The Bollinger base ($1.1754) is the key
concern for bears and currently limits follow through. Layers of resistance are
adding to bearish confidence with bulls now needing a close above $1.1810 to
ease bearish pressure and above $1.1862 to shift focus higher.

To read the full story

Close

Why MNI

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.