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Free AccessLooking Firm *RES 4: 1.1237.......>
EURO-DOLLAR TECHS: Looking Firm
*RES 4: 1.1237 High Mar 16
*RES 3: 1.1167 61.8% retracement of the Mar 9 - 23 sell-off
*RES 2: 1.1163/64 High Mar 30 and key resistance / 2.0% 10-dma envelope
*RES 1: 1.1145 Intraday high
*PRICE: 1.1119 @ 16:41 BST May 29
*SUP 1: 1.1070 Intraday low
*SUP 2: 1.0992 May 28 low
*SUP 3: 1.0934 Low May 27
*SUP 4: 1.0871 May 25 low and key near-term support
EURUSD maintains a firmer tone as the pair edges higher. This week's key
resistance at 1.1018, May 1 high has been cleared and this confirmed a range
breakout and secures the current bullish conditions. The focus is on the next
key resistance at 1.1163, Mar 30 high. A break would open 1.1167, a Fibonacci
retracement and clearance of this level would suggest scope for a climb towards
1.1237, Mar 16 high. Support lies at 1.0992, the Thursday low.
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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.