RPT-MNI POLICY: Cracks On MPC But Gradualism Holds

MNI BRIEF: BOJ Aug Consumption Activity Index Drops 0.0% M/M

MNI BRIEF: Japanese Firms Increasingly See Need To Raise Pay

MNI BRIEF: Fed's Goolsbee Sees Rates 'A Fair Bit Lower'

MNI NBP WATCH: Rates Held As Energy, Wages Push Up Prices

MNI BRIEF: NBP Keeps Key Interest rates unchanged

MNI: GERMANY AUG FACTORY ORDERS -5.8% M/M

MNI BOJ: 2 OUT OF 9 JAPAN REGIONS UP ECON VIEW FROM JULY

Economic Data Calendar

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EURUSD TECHS: Corrective Pullback

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletGlobalForeign Exchange BulletsRegionNorth America
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance  
  • RES 3: 1.1084  High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0901 @ 15:50 BST Aug 8
  • SUP 1: 1.0893 Low Aug 5 
  • SUP 2: 1.0866 20-day EMA
  • SUP 3: 1.0834 50-day EMA
  • SUP 4: 1.0778 Low Aug 1 and a key support 

EURUSD is in consolidation mode. The pair maintains a positive tone following recent gains and the break of  key short-term resistance at 1.0948, the Jul 17 high. The move higher confirms a resumption of the uptrend and opens 1.1012 next, a Fibonacci retracement. Key short-term support has been defined at 1.0778, Aug 1 low. A pullback would be considered corrective. Initial support to watch lies at 1.0866, the 20-day EMA.  

135 words

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.
  • RES 4: 1.1139 High Dec 29 ‘ 23 and a key resistance  
  • RES 3: 1.1084  High Dec 29
  • RES 2: 1.1046 High Jan 2
  • RES 1: 1.1012 76.4% retracement of the Dec 28 ‘23 - Apr 16 downleg
  • PRICE: 1.0901 @ 15:50 BST Aug 8
  • SUP 1: 1.0893 Low Aug 5 
  • SUP 2: 1.0866 20-day EMA
  • SUP 3: 1.0834 50-day EMA
  • SUP 4: 1.0778 Low Aug 1 and a key support 

EURUSD is in consolidation mode. The pair maintains a positive tone following recent gains and the break of  key short-term resistance at 1.0948, the Jul 17 high. The move higher confirms a resumption of the uptrend and opens 1.1012 next, a Fibonacci retracement. Key short-term support has been defined at 1.0778, Aug 1 low. A pullback would be considered corrective. Initial support to watch lies at 1.0866, the 20-day EMA.