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Path of least resistance..........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Path of least resistance remains down:
*RES 4: 1.1306/44 200-dma / Low Jun 25
*RES 3: 1.1286/88 High Jul 11 and Jul 5
*RES 2: 1.1231/40/46 Trendline drawn off the Jun 25 high / 100-dma / cloud top
*RES 1: 1.1193 Low Jul 9
*PRICE: 1.1142 @ 02:31 GMT July 30
*SUP 1: 1.1102 Low Jul 25
*SUP 2: 1.1076 Low May 18 2017
*SUP 3: 1.1000 Psychological round number
*SUP 4: 1.0864 76.4% retracement of the Jan 2017-Feb 2018 rally
EURUSD is consolidating but remains within its downtrend and the focus is on
further downside. Momentum studies too are in a bear mode with the recent break
of former key supports at 1.1193 and 1.1181 continue to weigh. The pair remains
well within the range of the recent cycle lows at 1.1102. A break would open
1.1076 , the May 18, 2017 low. On the upside, 1.1193 provides initial resistance
ahead of the 1.1240/46 level.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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