Trial now
BRENT TECHS

(N1) Price Structure Remains Bullish

USDCAD TECHS

Tests Major Support - The 2017 Low!

AUDUSD TECHS

New Weekly Lows

EURJPY TECHS

Needle Still Points North

GILT TECHS

(M1) Key Support Zone Exposed

Softer, But Above Weekly Low

EURO-YEN TECHS
  • RES 4: 127.02/126.81 2.0% 10-dma envelope / High Apr 17, 2019
  • RES 3: 125.97 50% 2018 - 2020 Decline
  • RES 2: 125.86 2.0% Upper Bollinger Band
  • RES 1: 125.58 High Aug 6
  • PRICE: 124.76 @ 05:25 BST Aug 10
  • SUP 1: 123.82 20-day EMA
  • SUP 2: 122.84 Low Jul 24 and key support
  • SUP 3: 122.47 Low Jul 21
  • SUP 4: 121.82 Low Jul 15 and 16

The cross remains strong despite some moderation in the latter half of the week. Prices began to slip after printing a new multi-year high of 125.58 early Thursday. This extends the underlying uptrend with markets now looking to Fib resistance at 125.97 and 126.68. RSI measures have inched into overbought territory, suggesting we may see some further consolidation before any further strength. To the downside, a close below 123.06 would signal a top and highlight the potential for a correction.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com