Free Trial

$1.1889 Resistance Now Key *RES...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: $1.1889 Resistance Now Key
*RES 4: $1.2019 200-DMA
*RES 3: $1.1889 Alternating daily support/resistance
*RES 2: $1.1838 High May 17
*RES 1: $1.1750 High May 24
*PRICE: $1.1706 @ 0430GMT
*SUP 1: $1.1674 2018 Low May 23 
*SUP 2: $1.1646 Bollinger band base 
*SUP 3: $1.1624 High Nov 6 now support 
*SUP 4: $1.1552 Monthly Low Nov 7
*COMMENTARY: Bears retain overall focus on tests of Nov lows at $1.1552
following fresh 2018 lows Wednesday. The Bollinger base is the key concern with
potential to limit follow through. Layers of resistance remain adding weight to
the bearish case. Bulls now need a close above $1.1750 to gain breathing room
and above the $1.1889 to shift initial focus to $1.2019-1.2053 where the 200-DMA
is noted.

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.