Free Trial

Monitoring Resistance

EURUSD TECHS
  • RES 4: 1.1007 High May 10
  • RES 3: 1.0905 High May 16
  • RES 2: 1.0812 50-day EMA values
  • RES 1: 1.0790 High Jun 12
  • PRICE: 1.0781 @ 05:42 BST Jun 13
  • SUP 1: 1.0733 Low Jun 12
  • SUP 2: 1.0667/35 Low Jun 6 / Low May 31 and the bear trigger
  • SUP 3: 1.0608 Low Mar 17
  • SUP 4: 1.0551 Low Mar 16

EURUSD traded (briefly) higher Monday and pierced initial resistance at 1.0779, the Jun 2 high. A clear breach of 1.0790 would improve short-term conditions for bulls and allow for a stronger correction. This would expose resistance at the 50-day EMA, at 1.0812, where a clear break would further strengthen a bullish theme, suggesting scope for a continuation higher. Key support has been defined at 1.0635, the May 31 and marks the bear trigger.

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.