Free Trial

Below $1.1690 Targets Nov Lows....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Below $1.1690 Targets Nov Lows
*RES 4: $1.1848 High Dec 6
*RES 3: $1.1815 21-DMA
*RES 2: $1.1793 High Dec 12
*RES 1: $1.1764 Hourly support Dec 12 now resistance
*PRICE: $1.1731 @ 2000GMT
*SUP 1: $1.1713 Low Nov 21 
*SUP 2: $1.1690 High Nov 3 now support 
*SUP 3: $1.1621 Low Nov 10 
*SUP 4: $1.1554 Monthly Low Nov 7
*COMMENTARY: With the 21-DMA having capped since Thursday's close below the pair
remains heavy with immediate focus on $1.1690. Below $1.1690 remains needed to
confirm initial focus on $1.1552 Nov lows. Layers of resistance are building and
weighing with bulls needing a close above $1.1764 to gain breathing room. A
close above the 21-DMA is needed to hint at a correction with above $1.1884 to
shift focus back to $1.1940-61.

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.