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Probes 1.1193 key support: *RES...>

MNI (London)
EURO-DOLLAR TECHS: Probes 1.1193 key support:
*RES 4: 1.1315/44 200-dma / Low Jun 25
*RES 3: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off
*RES 2: 1.1286/88 High Jul 11 and Jul 5 / Bull trigger
*RES 1: 1.1248/52 100-dma / cloud top
*PRICE: 1.1194 @ 04:09 GMT July 23
*SUP 1: 1.1191 Intraday low
*SUP 2: 1.1181 Jun 18 low
*SUP 3: 1.1159 2% lower Bollinger band
*SUP 4: 1.1116 Low May 30
EURUSD remains under pressure following the rejection ahead of the key 1.1288
bull trigger on Friday. The failure to hold above the 100-dma is beginning to
weigh on the pair and support at 1.1193 has been probed overnight in Asia. This
negates the bullish engulfing candle pattern of Jul 10 and the focus now turns
to 1.1181 and 1.1159. EURUSD needs to break above 1.1288 to reinstate a bullish
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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