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CEEMEA FX Price Signal Summary - USDZAR Pierces Resistance


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Remains heavy for now: *RES 4: 1.1376...>

MNI (London)
EURO-DOLLAR: Remains heavy for now:
*RES 4: 1.1376 High Jul 1
*RES 3: 1.1328/44 200-dma / Low Jun 25
*RES 2: 1.1288 High Jul 5
*RES 1: 1.1261/57 Bull channel support now resistance / 100-dma
*PRICE: 1.1207 @ 04:13 GMT July 10
*SUP 1: 1.1193 Low Jul 9
*SUP 2: 1.1185/81 Cloud base / Jun 18 low
*SUP 3: 1.1154 2% lower Bollinger band
*SUP 4: 1.1107 YTD low May 23
EURUSD remains on the defensive following the break of channel support at 1,1246
on Friday. The channel is drawn off the May 30 low. Furthermore, the pair
breached 1.1200 yesterday extending the price depreciation that began off the
high of Jun 25. With momentum conditions also in a bearish mode, EURUSD is
expected to challenge 1.1181. A break would open the ytd May 23 low at 1.1107.
The former channel support, now resistance is at 1.1261 today.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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