Free Trial

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

EURO-DOLLAR
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 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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.