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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.
EURUSD TECHS
- RES 4: 1.0866 Bear channel resistance drawn from the Feb 10 high
- RES 3: 1.0758 Low Apr 14 and a recent breakout level
- RES 2: 1.0642 High May 5 and key short-term resistance
- RES 1: 1.0607 High May 19
- PRICE: 1.0573 @ 06:05 BST May 20
- SUP 1: 1.0461/350 Low May 18 and19 / Low May 13 and bear trigger
- SUP 2: 1.0341 Low Jan 3 2017 and a key support
- SUP 3: 1.0333 1.236 proj of the Feb 10 - Mar 7 - 31 price swing
- SUP 4: 1.0288 2.0% 10-dma envelope
EURUSD traded higher Thursday and breached resistance at the 20-day EMA. The average intersected at 1.0569 and the move above this level suggests scope for a stronger short-term recovery. This has opened the next key resistance at 1.0642, the May 5 high. Note that the recent bounce from 1.0350, May 13 low, also marks a recovery from the base of a bear channel, drawn from the Feb 10 high. Initial support is at 1.0461, May 18/19 low.
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.
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