Free Trial

Pressure On Greenback Gains Momentum, EURUSD Extending Above Resistance

USD
  • Downward pressure on US yields continuing to weigh on the greenback following the data with USDJPY now 140 pips off the intra-day highs and EURUSD continuing to make ground above noted 1.0930 resistance.
  • 1.0930 represents a key short-term hurdle for bulls and a clear break would reinstate the recent bull theme and signal scope for a 1.1033, the Feb 2 high.
  • Cable (+0.82%) continues to outperform following the earlier break of a confluence of resistance points between 1.2425-50 and targets a climb towards 1.2555 next, the top of a MA envelope study.

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.