Free Trial

Clears psychological 1.1200.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Clears psychological 1.1200 level:
*RES 4: 1.1376    High Jul 1
*RES 3: 1.1328/44 200-dma / Low Jun 25
*RES 2: 1.1288    High Jul 5
*RES 1: 1.1258    Bull channel support now res off May 30 low/100-dma
*PRICE: 1.1198    @ 09:03 GMT July 9
*SUP 1: 1.1196    Intraday low
*SUP 2: 1.1185/81 Cloud base/Jun 18 low
*SUP 3: 1.1154 2% lower Bollinger band
*SUP 4: 1.1107    YTD low May 23
EURUSD cleared the psychological 1.12 level and remains on the defensive
following the break and close below channel support at 1.1246 on Friday. This
marks an extension of the price depreciation that began off the high of Jun 25.
With momentum conditions also in bearish mode, EURUSD currently challenges
1.1181 with a break here opening the ytd May 23 low at 1.1107. The former
channel support, now resistance is at 1.1258 today.

To read the full story

Close

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.