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Downside focus: *RES 4:...........>

MNI (London)
EURO-DOLLAR TECHS: Downside focus:
*RES 4: 1.1281/84/86 High Jul 18/High Jul 15/High Jul 11
*RES 3: 1.1250/60 High Aug 06 / Cloud base
*RES 2: 1.1220/28 100-dma/50-dma
*RES 1: 1.1131 Low Aug 14
*PRICE: 1.1099 @ 04:18 GMT Aug 16
*SUP 1: 1.1070 Low Aug 02 / Lower Boll Band (2%)
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.0963 Down Trendline from Nov 7 2017 low
*SUP 4: 1.0821 Low Apr 24 2017
EURUSD took another leg lower yesterday breaching support at 1.1112/05, 61.8% of
the Aug 1-Aug 6 rally and the Aug 5 low. This rules out the current pullback as
a potential correction and reinforces the near-term bearish outlook. The focus
is now on the August 1 low and bear trigger at 1.1027. A break below this level
would bring the down trendline from the Nov 7 2017 low into play as key support.
Bulls need a close above the 100-dma and the 1.1250/60 area.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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