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Heavy ahead of key support:.......>

MNI (London)
EURO-DOLLAR TECHS: Heavy ahead of key support:
*RES 4: 1.1313/44 200-dma / Low Jun 25
*RES 3: 1.1286/88 High Jul 11 and Jul 5
*RES 2: 1.1246/52 100-dma / cloud top
*RES 1: 1.1193 Low Jul 9
*PRICE: 1.1135 @ 03:41 GMT July 25
*SUP 1: 1.1116 Low May 30
*SUP 2: 1.1107 Low May 23 and bear trigger
*SUP 3: 1.1000 Psychological round number
*SUP 4: 1.0864 76.4% retracement of the Jan 2017-Feb 2018 rally
EURUSD bearish outlook remains intact following the break of former key supports
at 1.1193 and 1.1181 on Tuesday. The underlying bearish tone stems from the
channel breakout on Jul 5 and the subsequent failure to clear resistance in
mid-July. The sell-off on Jul 19 saw bears gain the upper hand. Momentum studies
are bearish too and the focus is now on support at 1.1107, the low of May 23 and
the key bear trigger. 1.1193 is initial resistance.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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