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Channel top holding: *RES 4:......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Channel top holding:
*RES 4: 1.1143 1.0% 10-dma envelope
*RES 3: 1.1109 High Sep 12 and key reversal point
*RES 2: 1.1075 High Sep 17
*RES 1: 1.1056 Channel resistance drawn off May 26 high
*PRICE: 1.1002 @ 04:19 GMT Sep 25
*SUP 1: 1.0966 Low Sep 23
*SUP 2: 1.0933 3.0% Lower Bollinger Band
*SUP 3: 1.0927/26 Low Sep 12 and Sep 3
*SUP 4: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
EURUSD remains below the key channel top drawn off the June 25 high. The
underlying bearish threat still dominates. The break Monday of support at
1.0990, low Sep 17 exposes the recent key lows at 1.0926/27 with the 3.0% lower
Bollinger Band at 1.0933. A break of these support levels would confirm a
resumption of the downtrend. To turn bullish, a move above 1.1109, Sep 13 high
is still required. This would confirm a channel breakout.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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