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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.
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Free AccessMNI BRIEF: Canada Commits To Just One Of Three Fiscal Anchors
MNI POLITICAL RISK - Thune Eyes 'Deficit-Negative' Legislation
Clears Key Short-Term Support
- RES 4: 1.0964 High Mar 13
- RES 3: 1.0933 61.8% retracement of the Dec 28 - Apr 16 bear leg
- RES 2: 1.0836/1.0916 20-day EMA / High Jun 04 and the bull trigger
- RES 1: 1.0812 50-day EMA
- PRICE: 1.0756 @ 06:01 BST Jun 10
- SUP 1: 1.0748 Intraday low
- SUP 2: 1.0724 Low May 9
- SUP 3: 1.0675 76.4% retracement of the Apr 16 - Jun 4
- SUP 4: 1.0650 Low May 1
EURUSD traded sharply lower Friday and the pair is weak again today. Price has breached the 20-day EMA and this has been followed by a break of support at 1.0788, the May 30 low. The move lower undermines the recent bullish theme and signals scope for a deeper pullback. Sights are on 1.0724, the May 9 low and 1.0675 further out, a Fibonacci retracement point. Initial resistance is seen at 1.0812, the 50-day EMA.
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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.