Free Trial

Layers of Resistance Having.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Layers of Resistance
Having closed above 1.1600 on Friday, EURUSD rallied on broad USD weakness
before topping out at 1.1653 Monday. EUR/USD looks to close toward the upper end
of the day's range, keeping the bullish momentum in tact at the close today.
Bulls look to re-test earlier highs where an inverse head-and-shoulders
formation is pointing to further gains towards 1.1700, which marks down
trendline resistance from the June high. Above here targets the 100-dma
currently at 1.1768. Bears keep focus on the 1.15 area to shift momentum back
toward the YTD Aug 15 low of 1.1301.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.