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Stalls at bull channel top:.......>
EURO-DOLLAR TECHS: Stalls at bull channel top:
*RES 4: 1.1556 1.618 projection of the May 30-Jun rally from the Jun 18 low
*RES 3: 1.1489 High Feb 1
*RES 2: 1.1448 High Mar 20
*RES 1: 1.1408/12 bull channel top drawn off the Jun 30 low, High Jun 25
*PRICE: 1.1357 @ 04:09 GMT June 26
*SUP 1: 1.1344 Low Jun 25
*SUP 2: 1.1283 Low Jun 21
*SUP 3: 1.1261 100-day MA
*SUP 4: 1.1211 Trendline support drawn off the May 30 low
EURUSD failed to hold above 1.1400 yesterday. This has reinforced the
significance of the 1.1400 handle near-term. Yesterday also saw EURUSD stall at
the top of its bull channel at 1.1408, printing a high of 1.1412. At this stage,
the failure at 1.1400 is seen as a temporary setback and some consolidation is
possible near-term. For bulls, a move above yesterday's high of 1.1412 would
confirm a resumption of the up-trend opening 1.1448 and 1.1489.
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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.