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Further CNY Depreciation Weighs On EM FX


Aussie Awaits RBA Decision Next Week


(M2) Trend Condition Remains Bearish


(M2) At New Cycle Lows

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EURO-DOLLAR TECHS: Focus Remains 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: 1.0814 @ 10:17 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 is trading closer to
recent lows. 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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