Free Trial

Extends Bounce *RES 4: 1.1321.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Extends Bounce
*RES 4: 1.1321 High Jul 2
*RES 3: 1.1286 High Jul 11 and 76.4% of the Jun 25 - Oct 1 Decline
*RES 2: 1.1250 High Aug 6
*RES 1: 1.1239 High Dec 31 and bull trigger
*PRICE: 1.1182 @ 16:12 GMT Jan 6
*SUP 1: 1.1157 Intraday low
*SUP 2: 1.1125 Low Jan 3
*SUP 3: 1.1096 Low Dec 27
*SUP 4: 1.1066/63 Low Dec 20 / 100-dma
EURUSD found decent support at the open Monday following the recovery off
Friday's low of 1.1125. This reinforces the view the recent pullback has been
corrective, with the underlying outlook still bullish. Last week saw the pair
trade through key resistance of 1.1199, the Dec 13 high confirming a resumption
of the recovery that began in early October. Attention is on 1.1250, Aug 6 high
and 1.1286, Jul 11 high. Support lies at 1.1125.

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.