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Free AccessClears Resistance At The Bear Channel Top
- RES 4: 1.0400 Round number resistance
- RES 3: 1.0368 High Aug 10 and a key resistance
- RES 2: 1.0327 High Aug 12
- RES 1: 1.0249 76.4% retracement of the Aug 10 - Sep 6 downleg
- PRICE: 1.0192 @ 09:59 BST Sep 12
- SUP 1: 1.0028 20-day EMA
- SUP 2: 0.9931/9864 Low Sep 8 / 6 and the bear trigger
- SUP 3: 0.9800 Round number support
- SUP 4: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing
EURUSD has traded higher this morning. A key short-term break has occurred - price is through resistance at 1.0149, the channel top, drawn from the Feb 10 high. A clear break of this level and close above it, would strengthen bullish conditions and suggest scope for a stronger recovery. This would open 1.0249, a Fibonacci retracement, ahead of 1.0368, the Aug 10 high and a key resistance. First support is at 1.0028, the 20-day EMA.
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Why MNI
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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.