Free Trial

Closing In On The 200-DMA *RES....>

EURO-DOLLAR TECHS: Closing In On The 200-DMA
*RES 4: 1.1228 High Aug 13
*RES 3: 1.1179 Oct 21 high and key bull trigger
*RES 2: 1.1155 200-day MA
*RES 1: 1.1145 High Dec 11
*PRICE: 1.1142 05:35 GMT Dec 12
*SUP 1: 1.1070 Yesterday's low
*SUP 2: 1.1040 Low Dec 6
*SUP 3: 1.1003 Low Dec 2
*SUP 4: 1.0981 Low Nov 29 and key support
EURUSD traded higher yesterday clearing resistance at 1.1116, Dec 4 high and has
narrowed the gap with the 1.1155 200-dma. The break higher has reinforced
near-term bullish conditions and attention turns to resistance at 1.1179, the
high of Nov 21. This level also represents an important bull trigger where a
break would open potential for a move into the 1.1200 territory. Initial support
is seen at 1.1070, yesterday's low. Bullish!

To read the full story



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.