CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Approaching The Bear Channel Base

EURUSD TECHS
  • RES 4: 1.0615 High Jun 27 and a key resistance
  • RES 3: 1.0556 Bull channel resistance drawn from the Feb 10 high
  • RES 2: 1.0359/0438 Low Jun 15 / 20-day EMA
  • RES 1: 1.0221 High Jul 7
  • PRICE: 1.0187 @ 16:03 BST Jul 8
  • SUP 1: 1.0072 Low Jul 8
  • SUP 2: 1.0018 Bear channel base drawn from the Feb 10 high
  • SUP 3: 1.0000 Parity and a key psychological support
  • SUP 4: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing

EURUSD trend conditions remain bearish and the pair initially traded weaker Friday before recovering into the close. Tuesday's impulsive sell-off resulted in a break of 1.0350, May 13 low, to confirm a resumption of the primary downtrend. This week’s sell-off also highlights an acceleration of the downtrend. The focus is on 1.0018, the base of a channel drawn from the Feb 10 high. Firm resistance is seen at 1.0438, 20-day EMA. Initial resistance is at 1.0221.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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.