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USDCNH through the intraday high




Opening calls

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Eases Lower

  • RES 4: 0.8498 High Dec 23
  • RES 3: 0.8436 50-day EMA
  • RES 2: 0.8388/8419 20-day EMA / High Jan 3
  • RES 1: 0.8381 Low Nov 22
  • PRICE: 0.8341 @ 17:23 GMT Jan 18
  • SUP 1: 0.8324 Low Jan 11
  • SUP 3: 0.8300 Base of the multi-year broad range
  • SUP 4: 0.8282/77 Low Feb’20 / Dec’19 and key bear trigger
  • SUP 4: 0.8242 50% Fibonacci Retracement 2015-2020 Upleg

EURGBP traded lower into the Tuesday close, reversing early gains in the cross. This keeps the outlook bearish. Attention on the major support and bear triggers at 0.8282/77, marking the Feb’20 and Dec’19 lows. Price is also trading close to the base of its broad multi-year range at 0.8300. This level represents a key pivot chart point and if cleared, would highlight an important range breakout. Initial firm resistance is at 0.8419

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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