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DATA REACT

USD Drops, Gold Spikes, Equities Benefit Post-NFP

CORN TECHS

(N1) Uptrend Extends

EQUITY TECHS

E-MINI S&P (M1): Support Remains Intact

Eases Lower into Friday Close

EURO-DOLLAR TECHS
  • RES 4: 1.2038 2.0% 10-dma envelope
  • RES 3: 1.2000 Psychological round number
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1916 High Aug 6
  • PRICE: 1.1794 @ 05:18 BST Aug 10
  • SUP 1: 1.1696 Low Aug 3
  • SUP 2: 1.1674/1639 20-day EMA / Low Jul 27
  • SUP 3: 1.1581 Low Jul 24
  • SUP 4: 1.1541 Low Jul 23

The pair traded softer into the Friday close, inching further from the 1.1916 high. The weak Friday close makes a period of consolidation more likely, with bulls needing to secure a close above 1.19 to reignite the uptrend. Momentum indicators have been flashing overbought consistently across the week, and a longer pause may relieve some of this pressure. The technical outlook deteriorates below 1.1696. Any persistent move higher will focus on the psychological 1.2000 handle.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com