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EURO-DOLLAR TECHS
  • RES 4: 1.2011 High Sep and key resistance
  • RES 3: 1.1917 76.4% retracement of the Sep 1 - 25 sell-off
  • RES 2: 1.1885 1.0% 10-dma envelope
  • RES 1: 1.1870/72 Intraday high / High Sep 21
  • PRICE: 1.1847 @ 10:24 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 is off earlier highs. This week's positive remains intact and yesterday the pair breached the bull trigger at 1.1831, Oct 9 high. The break higher, together with today's earlier gains, suggests scope for an extension towards 1.1917, a Fibonacci retracement level. 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.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com