Free Trial

Strong to Stronger

CABLE TECHS
  • RES 4: 1.3408 3.0% 10-dma envelope
  • RES 3: 1.3284 High Dec 31, 2019
  • RES 2: 1.3200 High Mar 9 and a key resistance
  • RES 1: 1.3170 High Jul 31
  • PRICE: 1.3131 @ 05:25 BST Aug 6
  • SUP 1: 1.2945 Low Jul 30
  • SUP 2: 1.2878/38 20-day EMA / Low Jul 28
  • SUP 3: 1.2781 Low Jul 27
  • SUP 4: 1.2717 Low Jul 24

The recovery from the Tuesday low extended throughout US hours Wednesday, but stopped just short of the Friday high at 1.3170. The broader uptrend that has been in place since the reversal on Mar 20 remains the key driver. Attention is on 1.3200 next, Mar 9 high where a break would open 1.3284, Dec 31 2019 high. On the downside, support is at 1.2945, Jul 30 low.

To read the full story

Close

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.