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Bears take a breather: *RES 4:....>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Bears take a breather:
*RES 4: 1.1250/60 High Aug 06 / Cloud base
*RES 3: 1.1215/15 50-dma and 100-dma
*RES 2: 1.1158 High Aug 15
*RES 1: 1.1114 High Aug 19
*PRICE: 1.1095 @ 04:04 GMT Aug 21
*SUP 1: 1.1066 Low Aug 16
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.1000 Psychological level / Channel base drawn off the Jan 10 high
*SUP 4: 1.0821 Low Apr 24 2017
EURUSD is unchanged as it consolidates around the 1.1100 handle. The outlook
remains bearish, however an important intraday resistance has been defined at
1.1114, Monday's high. If this level is cleared, scope would exist for a
corrective bounce back towards the 1.1200 handle. Prices need to move below last
weeks 1.1066 low to reopen the key bear trigger at 1.1027. A break of the latter
would confirm a resumption of the downtrend and open 1.1000 next.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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