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Free AccessFed saves bulls: *RES 3: 1.1348...>
EURO-DOLLAR TECHS: Fed saves bulls:
*RES 3: 1.1348 High Jun 7 and key resistance
*RES 2: 1.1346 2.0% Upper Bollinger Band
*RES 1: 1.1289 High Jun 14
*PRICE: 1.1247 @ 18:56 GMT June 19
*SUP 1: 1.1152 Low Jun 3
*SUP 2: 1.1116 Low May 30
*SUP 3: 1.1107 Low May 23 and key support
EURUSD cracked resistance at 1.1228 and the Tuesday high on the back of the
dovish Fed rate decision, opening resistance at the psychological 1.1300 handle
and the highs seen in early June layered from 1.1348. A strong close Wednesday
hurts the bearish trend somewhat, but a revisit of 1.12 in the coming sessions
would reinforce the medium-term downward trend. Below here, the focus is on
downside support at 1.1152. Clearance of 1.1152 would open the May 30 low at
1.1116 and psychological support at 1.1100.
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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.