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Stable, but remains fragile:......>

MNI (London)
EURO-DOLLAR TECHS: Stable, but remains fragile:
*RES 4: 1.1304/44 200-dma / Low Jun 25
*RES 3: 1.1286/88 High Jul 11 and Jul 5
*RES 2: 1.1224/40/46 Trendline drawn off the Jun 25 high / 100-dma / cloud top
*RES 1: 1.1193 Low Jul 9
*PRICE: 1.1155 @ 03:59 GMT July 31
*SUP 1: 1.1102 Low Jul 25
*SUP 2: 1.1076 Low May 18 2017
*SUP 3: 1.1000 Psychological round number
*SUP 4: 1.0864 76.4% retracement of the Jan 2017-Feb 2018 rally
EURUSD continues to consolidate but remains within its downtrend. The focus is
on further weakness with momentum studies in a bear mode too. Furthermore, the
recent break of former key supports at 1.1193 and 1.1181 continues to weigh on
the pair. The recent low of 1.1102 lies just below the Apr and May lows. A break
would confirm a breach of a key support area and open 1.1076 , the May 18, 2017
low ahead of 1.1000. On the upside, 1.1193 is initial resistance.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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