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Free AccessFocus Is On Support *RES 4:.......>
EURO-DOLLAR TECHS: Focus Is On Support
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0901/26 50-day EMA / High May 5
*RES 1: 1.0896 High May 13
*PRICE: 1.0806 @ 06:25 BST May 15
*SUP 1: 1.0775/67 Low May 14 / Low May 7 and key intraday support
*SUP 2: 1.0727 Low Apr 24 and bear trigger
*SUP 3: 1.0723 Low Mar 24
*SUP 4: 1.0600 round number support
EURUSD failed to hold onto Wednesday's high of 1.0896 and traded lower
yesterday. Key support to watch is still 1.0767, May 7 low where a break would
resume bearish pressure and open 1.0727, the Apr 24 low. Stronger gains together
with a breach of Wednesday's high are needed to undermine the recent bearish
outlook and expose 1.0926, May 5 high. A breach here would refocus attention on
key resistance at 1.1018, May 1 high.
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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.