MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

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

Prices Falter, But Support Intact For Now

EURUSD TECHS
  • RES 4: 1.0915 76.4% retracement of the Feb 2 - 27 downleg.
  • RES 3: 1.0803 High Feb 14 and a key short-term resistance
  • RES 2: 1.0724/28 38.2% of the Feb 2 - 27 downleg / 50-dma
  • RES 1: 1.0694 High Mar 6
  • PRICE: 1.0593 @ 16:05 GMT Mar 7
  • SUP 1: 1.0574/33 Low Mar 7 / Low Feb 27 and the bear trigger
  • SUP 2: 1.0484 Low Jan 6 and a key support
  • SUP 3: 1.0461 38.2% retracement of the Sep 28 - Feb 2 bull leg
  • SUP 4: 1.0404 2.0% 10-dma envelope

EURUSD reversed sharply Tuesday, putting prices at fresh weekly lows after a hawkish turn from the Fed chair. Nonetheless, the pullback failed to challenge nearby support, with the bear trigger at 1.0533 still some way off. Short-term gains remain considered corrective. The pair pierced the 50-day EMA for a second time Monday. The average intersects at 1.0659 - a clear break would signal scope for an extension higher and open 1.0803, the Feb 14 high and a key short-term level.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign 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.