Free Trial

Current Recovery Intact *RES 4:...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Current Recovery Intact
*RES 4: 1.1228 High Aug 13
*RES 3: 1.1178/79 200-day MA / Oct 21 high and key bull trigger
*RES 2: 1.1140 High Nov 5
*RES 1: 1.1093 High Nov 6 / 100-day MA
*PRICE: 1.1074 05:29 GMT Nov 19
*SUP 1: 1.1015 Low Nov 15
*SUP 2: 1.0989 Low Nov 14 and key support
*SUP 3: 1.0967 Double top projection
*SUP 4: 1.0950 76.4% of Oct 1 - Oct 21 climb
EURUSD was firmer yesterday and did trade above 1.1073, the former double top
midpoint. The next level of resistance is at 1.1093, clearance of this level
would open the potential for an extension above 1.1100 towards 1.1140 and
possibly the key resistance at 1.1179, Oct 21 high. Key near-term support is
1.0989, last weeks low. A break would resume a bearish theme. Initial support
lies at 1.1015. Momentum studies appear firmer for now.

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.