BOC WILL BE CONSDIERING FURTHER RATE CUTS

BOC DOESN'T SEE A RECESSION, RATHER SLOW GROWTH

BOC SAYS WEAKER CAD DRIVEN BY USD STRENGTH

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

BOC CUTS RATE 50BPS TO 3.25%, SEES GRADUAL APPROACH FROM HERE

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - EURUSD Trades Through Key Channel Support

OUTLOOK
  • In FX, EURUSD is trading lower today. The pair has breached a key support that lies at 1.0784. This marks the base of the bull channel drawn from the Mar 15 low and represents a key pivot point. A clear channel breakout would strengthen bearish conditions and open 1.0733 initially, the Jun 12 low, ahead of 1.0668, the Jun 7 low. On the upside, key short-term resistance has been defined at 1.0945, the Aug 30 high. Clearance of this level would highlight a short-term reversal.
  • A key short-term resistance in GBPUSD has been defined at 1.2746, the Aug 30 high. A break of this level is required to signal scope for a stronger short-term recovery. The trend outlook is bearish and today’s move lower has reinforced this condition. The pair has breached support at 1.2548, the Aug 25 low. This confirms a resumption of the trend and opens 1.2480, the 1.50 projection of the Jul 14 - 24 - 27 price swing.
  • USDJPY is trading higher today. The trend outlook remains bullish and attention is on resistance at 147.37, the Aug 29 high and the bull trigger. A clear break of this level would confirm a resumption of the uptrend and open 148.40, the Nov 4 2022 high. Friday’s low of 144.45 represents the key short-term support where a break would signal scope for a deeper correction and expose 143.46, the 50-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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.