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Channel support in view: *RES.....>
EURO-DOLLAR TECHS: Channel support in view:
*RES 4: 1.1438/48 Bull channel top and High Mar 20
*RES 3: 1.1412 High Jun 25
*RES 2: 1.1352/76 200-hma / High Jul 1
*RES 1: 1.1338/44 200-dma / Low Jun 25
*PRICE: 1.1287 @ 03:48 GMT July 3
*SUP 1: 1.1278/61 Cloud top / 100-dma
*SUP 2: 1.1254 High Jun 19
*SUP 3: 1.1236/30/26 channel support / 50-dma / Jun 20 low
*SUP 4: 1.1181 Jun 18 low
EURUSD remains on the defensive. The recent failure at 1.1400 is likely to weigh
on the pair for now with the focus on the channel / trendline support that today
intersects at 1.1236. The channel is drawn off the May 30 low. The current
pullback is still potentially a correction against a broader uptrend, however
this will change if 1.1236 fails to hold. On the upside, a move above 1.1338/44,
the 200-dma and Jun 25 low would mark a positive development intraday for bulls.
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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.