Free Trial
ASIA FX

Fresh Lows On Spill Over From GBP Weakness

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
CABLE TECHS
CABLE TECHS: Rally Reaches Into $1.4175-$1.4196 Resistance Zone
*RES 4: $1.4346 Jan 25 high
*RES 3: $1.4272/79 2% volatility band, Feb 1, Feb 2 highs
*RES 2: $1.4196 76.4% Fibo of $1.4346-$1.3712
*RES 1: $1.4175/79 3 week bull channel top, intraday high
*PRICE: $1.4157 @0854GMT
*SUP 1: $1.4100/05 Hourly support
*SUP 2: $1.4079/89 Hourly high Mar 21, Mar 19 high
*SUP 3: $1.4055/60 Hourly congestion area Mar 21
*SUP 4: $1.4018/20 Hourly base Mar 19, initial high Mar 20
*COMMENTARY* Has recovered well from Tuesday's drop to $1.3983. Today's rally
has slightly surpassed the 3 week bull channel top at $1.4175, while having eyes
for a test of the next level of note, the 76.4% Fibo retrace level at $1.4196.
As a result, support also rises, $1.4105-$1.4100 initially and then
$1.4089-$1.4079. Loss would open up deeper $1.4060-$1.4018 corrective potential.
Above $1.4196 and $1.4272-$1.4279 becomes next challenge.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.