MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: BRAZIL'S COPOM RAISES SELIC RATE BY 100BPS TO 12.25%

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

EURUSD TECHS: Watching Support The 50-Day EMA

EURUSD TECHS
USForeign Exchange Technical AnalysisGlobalCEEMEABulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.1276 High Jul 18 2023 
  • RES 3: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1155/1202 High Sep 6 / High Aug 26 and the bull trigger
  • RES 1: 1.1102 High Sep 13  
  • PRICE: 1.1084 @ 19:17 BST Sep 13
  • SUP 1: 1.1002 Low Sep 11  
  • SUP 2: 1.0980 50-day EMA
  • SUP 3: 1.0940 61.8% retracement of the Aug 1 - 26 bull leg
  • SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg

EURUSD recovered from last week’s lows. Despite these gains, a bearish corrective theme remains intact - for now. The move lower last week resulted in a breach of support at 1.1026, the Sep 3 low. A clear break of this level would signal scope for a deeper correction towards the 50-day EMA, at 1.0984 - a key support. Key short-term resistance is at 1.1155, the Sep 6 high. A break of it would be bullish. 

157 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: 1.1234 1.618 proj of the Jun 26 - Jul 17 - Aug 1 price swing
  • RES 2: 1.1155/1202 High Sep 6 / High Aug 26 and the bull trigger
  • RES 1: 1.1102 High Sep 13  
  • PRICE: 1.1084 @ 19:17 BST Sep 13
  • SUP 1: 1.1002 Low Sep 11  
  • SUP 2: 1.0980 50-day EMA
  • SUP 3: 1.0940 61.8% retracement of the Aug 1 - 26 bull leg
  • SUP 4: 1.0878 76.4% retracement of the Aug 1 - 26 bull leg

EURUSD recovered from last week’s lows. Despite these gains, a bearish corrective theme remains intact - for now. The move lower last week resulted in a breach of support at 1.1026, the Sep 3 low. A clear break of this level would signal scope for a deeper correction towards the 50-day EMA, at 1.0984 - a key support. Key short-term resistance is at 1.1155, the Sep 6 high. A break of it would be bullish.