Free Trial

Key Intraday Support Defined At...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Key Intraday Support Defined At 1.0767
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0915/ 26 50-day EMA / High May 5
*RES 1: 1.0876 High May 8
*PRICE: 1.0816 @ 10:19 BST May 11
*SUP 1: 1.0767 Low May 7 and key intraday support
*SUP 2: 1.0727 Low Apr 24 and bear trigger
*SUP 3: 1.0723 Low Mar 24
*SUP 4: 1.0600 round number support
EURUSD found support at 1.0767 last week. Despite the recovery, the near-term
outlook is bearish following last week's sell-off. To offset the bearish mood,
the pair needs to clear initial resistance at 1.0815, Friday's high and expose
1.0926, May 5 high. A breach of this latter level would refocus attention on key
resistance at 1.1018, May 1 high. Key support to watch today is 1.0767, a break
would resume bearish pressure and open 1.0727, the Apr 24 low.

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.