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Fresh Rally Now Has...............>
EURO-DOLLAR TECHS: Fresh Rally Now Has $1.1725-$1.1757 Resistance
*RES 4: $1.1824 50% Fibo of $1.2093-$1.1554
*RES 3: $1.1785 Hourly congestion late October
*RES 2: $1.1754/57 2 month falling res line, 1% vol band
*RES 1: $1.1725/30 Oct 23, Oct 18 lows, now resistance
*PRICE: $1.1720 @1040GMT
*SUP 1: $1.1655/60 Hourly support
*SUP 2: $1.1638 Nov 13 low
*SUP 3: $1.1600 Hourly congestion Nov 8-9
*SUP 4: $1.1554 Nov 7 low
*COMMENTARY* Found support from around the $1.1555 level last Tuesday, before
being rescued by some near term oversold conditions. Thursday's move back above
the previously troublesome $1.1660 area is a positive, as is today's through
the Nov 3 high at $1.1690. This now sees the $1.1725-$1.1757 area as next
resistance. Meanwhile, $1.1660-$1.1655 provides initial support, with
$1.1638-$1.1600 below.
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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.