Free Trial

Focus Is On Key Resistance *RES...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Focus Is On Key Resistance
*RES 4: 1.1163 High Mar 30
*RES 3: 1.1039 High Apr 1
*RES 2: 1.1018 High May 1 and key resistance
*RES 1: 1.0976 High May 19
*PRICE: 1.0954 @ 10:30 BST May 20
*SUP 1: 1.0902 Low May 19
*SUP 2: 1.0800 Low May 18
*SUP 3: 1.0775/67 Low May 14 / Low May 7 and key intraday support
*SUP 4: 1.0727 Low Apr 24 and bear trigger
EURUSD maintains a bullish tone following this week's recovery and break of
resistance at 1.0896, May 13 high. The clearance of this resistance shifts
attention towards the bull trigger at 1.1018, May 1 high where a break is
required to confirm a bullish reversal. On the downside, a failure to hold onto
gains would again expose support at 1.0767, the May 7 low. A break would instead
resume bearish pressure and open 1.0727 once again, Apr 24 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.