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Has Bounced Within The Channel:...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Has Bounced Within The Channel:
*RES 4: 1.1109 High Sep 13
*RES 3: 1.1076 High Sep 18
*RES 2: 1.1023/25 Channel resistance drawn off May 26 high / High Sep 23
*RES 1: 1.0974 Intraday High
*PRICE: 1.0962 @ 09:04 GMT Oct 3
*SUP 1: 1.0879 Low Oct 1
*SUP 2: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
*SUP 3: 1.0844 3.0% Lower Bollinger Band
*SUP 4: 1.0821/39 April / May 2017 Low
EURUSD has managed to stage a decent bounce in the past 48-hrs. Whether this
marks the start of a more constructive bullish theme remains to be seen though.
For now, a bearish outlook is maintained following selling pressure earlier this
week, hitting a multi-year 1.0879 low. The focus is on the retracement at
1.0862, and the 3.0% Lower Bollinger Band at 1.0848. The channel top drawn off
the May 26 high is at 1.1023 and remains the key hurdle for bulls.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com