Free Trial

Eyeing Key Resistance *RES 4:...>

EURO-STERLING TECHS
EURO-STERLING TECHS: Eyeing Key Resistance
*RES 4: 0.9187 61.8% Fibonacci retracement of the Mar - Apr decline
*RES 3: 0.9086 50.0% Fibonacci retracement of the Mar - Apr decline
*RES 2: 0.9055/57 High May 29 / Double bottom projection
*RES 1: 0.9015 High Jun 11
*PRICE: 0.8983 @ 16:56 BST Jun 12
*SUP 1: 0.8864 Low Jun 9
*SUP 2: 0.8861/44 50-day EMA / 1.0% Lower 10-dma envelope
*SUP 3: 0.8826 Low May 14
*SUP 4: 0.8759 Low May 12
Support for the cross at 0.8864, Jun 9 low and 0.8861, 50-day EMA marks a key
cushion for the cross. The recovery this week has ensured this support area
remains intact. The focus is on 0.9055, May 29 high where a break is required to
confirm a resumption of the recovery since early May. On the downside, clearance
of the support zone would instead highlight a bearish risk and open 0.8826, May
14 low and 0.8808, May 13 low.

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.