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EURO-DOLLAR TECHS
  • RES 4: 1.1917 76.4% retracement of the Sep 1 - 25 sell-off
  • RES 3: 1.1885 1.0% 10-dma envelope
  • RES 2: 1.1872 High Sep 21
  • RES 1: 1.1859 61.8% retracement of the Sep 1 - 25 sell-off
  • PRICE: 1.1848 @ 05:55 BST Oct 21
  • SUP 1: 1.1822 Intraday low
  • SUP 2: 1.1760 Low Oct 20
  • SUP 3: 1.1734 50-day EMA
  • SUP 4: 1.1712 Trendline support drawn off the Sep 28 low

EURUSD maintains this week's positive tone and yesterday breached the bull trigger at 1.1831, Oct 9 high. The break higher, together with gains overnight in Asia, suggests scope for an extension towards 1.1859 initially and 1.1917 further out, both Fibonacci retracement levels. The major resistance and hurdle for bulls is at 1.2011, Sep 1 high. On the downside, initial firm support lies at 1.1760, yesterday's low.

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