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Free AccessNeedle Still Points South
- RES 4: 1.1909 High Jul 30 / Sep 03 and a key resistance
- RES 3: 1.1792/1846 1.0% 10-dma envelope / High Sep 14
- RES 2: 1.1755/72 High Sep 22 / 50-day EMA
- RES 1: 1.1664/1711 Low Aug 20 / 20-day EMA
- PRICE: 1.1597 @ 06:11 BST Oct 4
- SUP 1: 1.1563 Low Sep 30 and low Oct 1
- SUP 2: 1.1493 50.0% retracement of the Mar '20 - Jan '21 bull phase
- SUP 3: 1.1469 1.236 proj of the Jan 6 - Mar 31 - May 25 price swing
- SUP 4: 1.1371 Low Jul 16
EURUSD is trading near recent lows and the outlook remains bearish. Last week's move lower confirmed a resumption of the downtrend following the break of key support at 1.1664, Aug 20 low. The break lower maintains a bearish price sequence of lower lows and lower highs with moving average conditions in a bear mode. The focus is on 1.1493 next, a Fibonacci retracement. Firm resistance is at 1.1755, Sep 22 high.
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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.