Free Trial

Found decent support at $1.2500 through.......>

CABLE
MNI (London)
CABLE: Found decent support at $1.2500 through Monday trade, after recovery
extension off Friday's post NFP lows of $1.2481 faltered at $1.2540. Recovery
efforts ahead of Monday's close met resistance at and above $1.2520 before
closing at $1.2517. Rate touched an opening high of $1.2523 in thin Asian trade
before rate drifted back to $1.2506 in Asia, with Europe adding further weight
to extend this move to $1.2503. Expect some support to emerge again into
$1.2500, a break though to expose that mentioned Friday low of $1.2481.
Resistance seen at $1.2520/25 ahead of $1.2540.   
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.