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Free AccessSupport Defined At 1.0767 *RES....>
EURO-DOLLAR TECHS: Support Defined At 1.0767
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0915/ 26 50-day EMA / High May 5
*RES 1: 1.0876 High May 8
*PRICE: 1.0849 @ 05:45 BST May 10
*SUP 1: 1.0815 Low May 8
*SUP 2: 1.0767 Low May 7 and key intraday support
*SUP 3: 1.0727 Low Apr 24 and bear trigger
*SUP 4: 1.0723 Low Mar 24
EURUSD managed on May 7 to find support at 1.0767. Despite the recovery, the
near-term outlook remains bearish following last week's sharp sell-off. However,
to offset the bearish mood, the pair needs to clear initial resistance at
1.0815, Friday's high and expose 1.0926, May 5 high. A breach of this latter
level would refocus attention on key resistance at 1.1018, May 1 high. Weakness
below 1.0767 resumes bearish pressure and opens 1.0727.
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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.