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Eating into Friday's rally:.......>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Eating into Friday's rally:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1202/09 50-dma and 100-dma
*RES 2: 1.1170/80 Trendline resistance drawn off the Jun 25 high / Pivotal level
*RES 1: 1.1164 High Aug 26
*PRICE: 1.1087 @ 03:44 GMT Aug 28
*SUP 1: 1.1052 Low Aug 23
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.1000/0994 Psychological level / Channel base drawn off the Jan 10 high
*SUP 4: 1.0864 76.4% retracement of the Jan 2017 - Feb 2018 rally
EURUSD slipped further yesterday, chipping away at the Friday rally. The upside
argument is still intact, prices remain within the candle body (area between the
open and close) of Friday's session. Furthermore, support at 1.1052 remains
intact. The focus is on pivotal resistance at 1.1180. A break would reinforce a
bullish outlook and confirm a breach of trendline resistance drawn off the Jun
25 high, at 1.1170 today. Weakness below 1.1052 would instead open 1.1027.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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