Free Trial

Cracks Support

EURO-STERLING TECHS
  • RES 4: 0.9148 High Jul 27
  • RES 3: 0.9087 High Jul 29
  • RES 2: 0.9070 High Aug 17 and key near-term resistance
  • RES 1: 0.9010/19 50- and 20-day EMA
  • PRICE: 0.8944 @ 17:18 BST Aug 27
  • SUP 1: 0.8930 Low Aug 27
  • SUP 2: 0.8912 Low Jun 16
  • SUP 3: 0.8891 50% Feb - Mar Rally
  • SUP 4: 0.8864 Low Jun 9

A near-term bearish outlook strengthened Thursday as the cross hit new multi-month lows. This sets the scene for a deeper pullback following the recent failure to build on gains in early August. A break lower opens 0.8912, Jun 16 low and Fib support at 0.8891. On the upside, clearance of 0.9070 is required to suggest a change in direction.

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.