Free Trial

Holding Above Key Support

EURO-DOLLAR TECHS

EURUSD is holding onto recent gains however to confirm a resumption of its uptrend, the pair needs to clear resistance at 1.1916, Aug 6 high.

  • A break higher would expose the 1.2000 handle and psychological barrier.
  • An overview of momentum studies continues to suggest the trend remains at or very close to overbought territory.
  • The key support to watch this week lies at 1.1711, Aug 12 low and 1.1696, Aug 3 low.
  • A breach of this zone would signal a reversal.
  • While it holds, the outlook remains bullish.

To read the full story

Close

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.