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Real-time insight on key fixed income and fx markets.
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Free AccessRally Approaches Next $1.3440-$1.3465...>
CABLE TECHS: Rally Approaches Next $1.3440-$1.3465 Target Zone
*RES 4: $1.3520 76.4% Fibo of $1.3618-$1.3204
*RES 3: $1.3481/87 23.6% Fibo of $1.4377-$1.3204, May 4 low
*RES 2: $1.3460/65 May 10 low, 61.8% $1.3618-$1.3204, 1% vol
*RES 1: $1.3440 Equality rise from $1.3295 to $1.3254-$1.3399
*PRICE: $1.3417 @0900GMT
*SUP 1: $1.3380/85 Hourly support
*SUP 2: $1.3355 Hourly congestion Jun 4-5
*SUP 3: $1.3331/33 Hourly low Jun 5, hourly low Jun 4
*SUP 4: $1.3295 Jun 4 low
*COMMENTARY* Was slow to take up the opportunity given the break above $1.3370
on Monday. A high of $1.3399 before giving back a lot of ground, finally coming
to rest at $1.3295, just above the next support of note at $1.3283. Has since
recovered again through $1.3399, with 1.3440 now the barrier to what looks the
next likely target area around $1.3460-65. As a result, support currently rises
to $1.3385-$1.3355 but only back below $1.3333-$1.3331 will caution at present.
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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.