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Free AccessStalls At 1.1199 For Now *RES.....>
EURO-DOLLAR TECHS: Stalls At 1.1199 For Now
*RES 4: 1.1286 High Jul 11 and 76.4% of the Jun 25 - Oct 1 decline
*RES 3: 1.1250 High Aug 6
*RES 2: 1.1228 High Aug 13
*RES 1: 1.11991/1208 Intraday high / 61.8% of the Jun 25 - Oct 1 decline
*PRICE: 1.1126 16:36 GMT Dec 13
*SUP 1: 1.1117 Intraday low
*SUP 2: 1.1103 Low Dec 12
*SUP 3: 1.1070 Low Dec 11
*SUP 4: 1.1040 Low Dec 6 and key support
EURUSD rallied Friday but activity was choppy and the pair was unable to hold
onto the high. Despite this, the outlook remains bullish. Price traded above
1.1179, Oct 21 high to confirm a resumption of the uptrend that has been in
place since early October. Momentum studies are bullish too reinforcing current
trend conditions. However given today's rejection off the high, a break above
1.1199 is also needed to reinforce the bullish theme. Support is at 1.1103.
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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.