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Bullish Reversal: *RES 4:.........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Bullish Reversal:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1208/13 50-dma and 100-dma
*RES 2: 1.1180 Near Term Pivotal
*RES 1: 1.1158 High Aug 15
*PRICE: 1.1133 @ 16:32 GMT Aug 23
*SUP 1: 1.1107 Former resistance
*SUP 2: 1.1052 Intraday low
*SUP 3: 1.1027 Low Aug 1 and key support
*SUP 4: 1.1000/0998 Psychological level / Channel base drawn off the Jan 10 high
EURUSD has spiked sharply higher through the initial resistance at 1.1114,
triggering a near-term bullish reversal signal. The focus is now on the pivotal
resistance at 1.1180. A further break above here would also confirm a break
above down trendline resistance adding to evidence that a bottom has been
established. This opens potential towards 1.1250 (August 6 high). Initial
support is now placed at 1.1107.
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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