MNI BRIEF: Eurozone Consumption Not Recovering - De Guindos

MNI BRIEF: BOI's Panetta Warns On Energy Transition Costs

MNI BRIEF: China CPI Expected To Rise Moderately - NBS

MNI BRIEF: China Aug Output, Investment Hit Lowest Of The Year

CHINA AUG INDUSTRIAL OUTPUT +4.5% Y/Y VS MEDIAN +4.6% Y/Y: NBS

MNI: PBOC Net Injects CNY138.7 Bln via OMO Saturday

EZ/UK Bond Supply Calendar: Slovakia Auction, BoE APF on Monday

MNI BRIEF: China Aug M1 Drops Further To Hit Record Low

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

EURUSD TECHS: Heading North

EURUSD TECHS
USForeign Exchange Technical AnalysisCEEMEABulletGlobalForeign Exchange BulletsRegionNorth America
  • RES 4: 1.1276 High Jul 18 2023
  • RES 3: 1.1201 1.50 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1168 1.382 proj of the Jun 26 - Jul 17 - Aug 1 price swing 
  • RES 1: 1.1139 High Dec 29 2023 and a key resistance
  • PRICE: 1.1105 @ 16:20 BST Aug 20
  • SUP 1: 1.1014/0955 Low Aug 19 / 20-day EMA
  • SUP 2: 1.0886 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3 

The trend condition in EURUSD remains bullish and this week’s appreciation reinforces the current set-up. Moving average studies remain in a bull-mode set-up, highlighting a rising trend. Sights are on 1.1139 next, the Dec 29 ‘23 high and a key resistance. Clearance of this hurdle would further strengthen the bullish condition. This would open 1.1168, a Fibonacci projection. Key short-term support is seen at 1.0955, the 20-day EMA.

150 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: 1.1276 High Jul 18 2023
  • RES 3: 1.1201 1.50 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1168 1.382 proj of the Jun 26 - Jul 17 - Aug 1 price swing 
  • RES 1: 1.1139 High Dec 29 2023 and a key resistance
  • PRICE: 1.1105 @ 16:20 BST Aug 20
  • SUP 1: 1.1014/0955 Low Aug 19 / 20-day EMA
  • SUP 2: 1.0886 50-day EMA
  • SUP 3: 1.0778 Low Aug 1 and a key support
  • SUP 4: 1.0736 Low Jul 3 

The trend condition in EURUSD remains bullish and this week’s appreciation reinforces the current set-up. Moving average studies remain in a bull-mode set-up, highlighting a rising trend. Sights are on 1.1139 next, the Dec 29 ‘23 high and a key resistance. Clearance of this hurdle would further strengthen the bullish condition. This would open 1.1168, a Fibonacci projection. Key short-term support is seen at 1.0955, the 20-day EMA.