MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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

Bear Channel Breakout?

EURUSD TECHS
  • RES 4: 1.0268 High Aug 15
  • RES 3: 1.0198 High Sep 12 and a key resistance
  • RES 2: 1.0051 High Sep 20
  • RES 1: 1.0027 High Oct 26
  • PRICE: 1.0022 @ 08:45 BST Oct 26
  • SUP 1: 0.9817 20-day EMA
  • SUP 2: 0.9705/9633 Low Oct 21 / 13
  • SUP 3: 0.9536 Low Sep 28 and key support
  • SUP 4: 0.9501 1.382 projection of the Aug 10 - Sep 6 - 12 price swing

EURUSD is extending gains early Wednesday, topping the reversal trigger and key resistance at October 4th’s 0.9999. This week’s price action is potentially significant. The pair is trading above an important resistance level at 0.9874 - the top of the bear channel drawn from the Feb 10 high. A clear break of this level would highlight a channel breakout and a stronger bullish reversal. The focus turns to 1.0051, the Sep 20 high. Initial key support is at 0.9705.

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.