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Breaks key supports: *RES 4:......>

MNI (London)
EURO-DOLLAR TECHS: Breaks key supports:
*RES 4: 1.1313/44 200-dma / Low Jun 25
*RES 3: 1.1286/88 High Jul 11 and Jul 5
*RES 2: 1.1246/52 100-dma / cloud top
*RES 1: 1.1193 Low Jul 9
*PRICE: 1.1143 @ 04:13 GMT July 24
*SUP 1: 1.1116 Low May 30
*SUP 2: 1.1107 Low May 23 and bear trigger
*SUP 3: 1.1000 Psychological round number
*SUP 4: 1.0864 76.4% retracement of the Jan 2017-Feb 2018 rally
EURUSD sold off sharply yesterday as supports at 1.1193 and 1.1181 were cleared.
The outlook remains bearish with the 2% lower Bollinger Band also under
pressure. The underlying bearish tone stems from the channel breakout on Jul 5
and the subsequent failure to clear resistance in mid-June. The sell-off on Jul
19 saw bears gain the upper hand. The focus is now on support at 1.1107, the low
of May 23 and the key bear trigger. 1.1193 is initial resistance.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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