Free Trial

Support To Watch Is 1.1064 *RES...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Support To Watch Is 1.1064
*RES 4: 1.1250 High Aug 146
*RES 3: 1.1194 200-DMA
*RES 2: 1.1179 High Oct 21 and bull trigger
*RES 1: 1.1140 High Nov 5
*PRICE: 1.1090 10:36 GMT Nov 6
*SUP 1: 1.1064 Low Nov 5 / 38.2% of Oct 1 - Oct 21 rally
*SUP 2: 1.1023/29 Low Oct 16 / 50.0% of Oct 1 - Oct 21 climb
*SUP 3: 1.0991 Low Oct 15
*SUP 4: 1.0950 76.4% of Oct 1 - Oct 21 climb
EURUSD was under pressure all day yesterday resulting in a break of key support
at 1.1073, Oct 25 low. The result of this price action is the confirmation of
double top following the recent failure at 1.1179, Oct 21 high. This is not a
major reversal but suggests scope for a deeper S/T decline towards 1.0967, the
double top projection. Key support for today is yesterday's low of 1.1064, just
below the 50-day EMA which, has essentially contained the downside for now.

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.