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Free AccessFinds Resistance At The 50-Day EMA
- RES 4: 1.1150 High Jul 27
- RES 3: 1.1065 High Aug 10 and a key resistance
- RES 2: 1.1005 High Aug 11
- RES 1: 1.0930/45 50-day EMA / High Aug 30
- PRICE: 1.0839 @ 17:40 BST Aug 31
- SUP 1: 1.0778/66 Channel base drawn from Mar 15 / Low Aug 25
- SUP 2: 1.0733 Low Jun 12
- SUP 3: 1.0668 Low Jun 7
- SUP 4: 1.0635 Low May 31 and a key support
EURUSD traded higher Wednesday resulting in a print above 1.0930, the 50-day EMA. The pair has failed to hold on to this week's highs and is trading lower. A continuation would refocus attention on the key support at 1.0778, the base of a bull channel drawn from the Mar 15 low and a pivot point. A clear channel breakout would strengthen bearish conditions and open 1.0733, Jun 12 low. A clear breach of the 50-day EMA would be bullish.
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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.