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Free AccessFocus is on key support: *RES.....>
EURO-DOLLAR TECHS: Focus is on key support:
*RES 4: 1.1136 1.0% 10-dma envelope
*RES 3: 1.1109 High Sep 12 and key reversal point
*RES 2: 1.1075 High Sep 17
*RES 1: 1.1050 Channel resistance drawn off May 26 high
*PRICE: 1.0943 @ 08:11 GMT Sep 26
*SUP 1: 1.0938 Low Sep 25
*SUP 2: 1.0927/26 Low Sep 12 and Sep 3
*SUP 3: 1.0917 3.0% Lower Bollinger Band
*SUP 4: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
EURUSD faced selling pressure once again yesterday as the pair retreated further
from the channel top. Downside targets at 1.0926/27, the Sep12/Sep3 lows and the
3.0% lower Bollinger Band at 1.0917 are within reach. A break of these support
levels would confirm a resumption of the downtrend opening 1.0900 and the 1.0867
retracement level. To turn bullish, a move above 1.1109, Sep 13 high is still
required. This would confirm a channel breakout.
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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.