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Impulsive Rally Accelerates

EURO-DOLLAR TECHS
  • RES 4: 1.1864 3.0% 10-dma envelope
  • RES 3: 1.1815 High Sep 2018
  • RES 2: 1.1800 Round number resistance
  • RES 1: 1.1781 Intraday high / 2.000 proj of Apr 23 - 30 rally from Apr 24 low
  • PRICE: 1.1760 @ 16:36 BST Jul 27
  • SUP 1: 1.1639/1581 Intraday low / Low Jul 24
  • SUP 2: 1.1507 Low Jul 22
  • SUP 3: 1.1423 Low Jul 21
  • SUP 4: 1.1371 Low Jul 16 and key near-term support

The pair enjoyed its best session for months Monday, extending the recent rally
through $1.17 handle. Bulls remain (firmly) in control for now. A

positive theme follows last week's breach of 1.1495, Mar 9 high

registering fresh 2020 highs. This also confirmed a strong resumption of

the broader uptrend in place since the reversal on Mar 20. The focus is

on 1.1815, Sep 2018 high. Initial support is 1.1639.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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