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COPPER TECHS

(Z2) Trades Through Support

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MNI POLITICAL RISK - US Daily Brief

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Early Eurodollar/SOFR/Treasury Option Roundup

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Short-Term Resistance Intact

EURUSD TECHS
  • RES 4: 1.0441 Bull channel resistance drawn from the Feb 10 high
  • RES 3: 1.0393 50-day EMA
  • RES 2: 1.0359 Low Jun 15
  • RES 1: 1.0229/78 20-day EMA / High Jul 21
  • PRICE: 1.0127 @ 16:13 BST Jul 27
  • SUP 1: 1.0108 Low Jul 26
  • SUP 2: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 3: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing
  • SUP 4: 0.9883 1.764 projection of the Jun 9 - 15 - 27 price swing

EURUSD traded just through the Tuesday lows ahead of the close, keeping price below immediate resistance at 1.0278, the Jul 21 high. This week’s move lower raises the risk of a return back toward recent lows below parity, at 0.9952 (Jul 14). To the upside, a break above 1.0278 would once again resume short-term bullish conditions and signal scope for an extension higher within the bull channel - the top intersects at 1.0441.

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  • RES 4: 1.0441 Bull channel resistance drawn from the Feb 10 high
  • RES 3: 1.0393 50-day EMA
  • RES 2: 1.0359 Low Jun 15
  • RES 1: 1.0229/78 20-day EMA / High Jul 21
  • PRICE: 1.0127 @ 16:13 BST Jul 27
  • SUP 1: 1.0108 Low Jul 26
  • SUP 2: 1.0064/0.9952 Low Jul 18 / 14 and the bear trigger
  • SUP 3: 0.9944 1.618 projection of the Jun 9 - 15 - 27 price swing
  • SUP 4: 0.9883 1.764 projection of the Jun 9 - 15 - 27 price swing

EURUSD traded just through the Tuesday lows ahead of the close, keeping price below immediate resistance at 1.0278, the Jul 21 high. This week’s move lower raises the risk of a return back toward recent lows below parity, at 0.9952 (Jul 14). To the upside, a break above 1.0278 would once again resume short-term bullish conditions and signal scope for an extension higher within the bull channel - the top intersects at 1.0441.