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SILVER TECHS

Bulls Still In Charge

GOLD TECHS

Fades Through Thursday

EUROSTOXX50 TECHS

(M1) Bounces Off Lows

BRENT TECHS

(N1) Falls Back Into Range

AUDUSD TECHS

Fresh Weekly Lows

WTI TECHS

(M1) Back Toward Week’s Lows

Inches to New High

EURO-DOLLAR TECHS
  • RES 4: 1.2038 2.0% 10-dma envelope
  • RES 3: 1.2000 Psychological round number
  • RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
  • RES 1: 1.1916 High Aug 6
  • PRICE: 1.1830 @ 05:15 BST Aug 7
  • SUP 1: 1.1696 Low Aug 3
  • SUP 2: 1.1665/1639 20-day EMA / Low Jul 27
  • SUP 3: 1.1581 Low Jul 24
  • SUP 4: 1.1541 Low Jul 23

Having traded well into the Wednesday close, EUR/USD managed to eke out a fresh cycle high at 1.1916 during early European hours before fading. With this week's close above $1.18, bulls are geared for further gains, with 1.1978 the next target. Momentum indicators are flashing overbought for now - but have been since the middle of July. Any persistent move higher will focus on the psychological 1.2000 handle.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com