DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Takes out key support: *RES 3: 1.2735...>

CABLE TECHS
CABLE TECHS: Takes out key support:
*RES 3: 1.2735 200-dma
*RES 2: 1.2670 50% retracement of the Mar 13 - Sep 3 decline
*RES 1: 1.2582 High Sep 20 / High Jul 15
*PRICE: 1.2372 @ 15:32 GMT Sep 25
*SUP 1: 1.2355 Intraday low
*SUP 2: 1.2327 Low Sep 13
*SUP 3:1.2284/75 Low Sep 12 / 50-dma
Support that the pair found in the Tuesday session faltered Wednesday, returning
the focus lower and shifting sights to the 50-dma at 1.2275. This harms the
over-arching bullish outlook, giving those looking for a resumption of the
uptrend with a tougher task. Wednesday saw key support at 1.2393, give way,
opening 1.2327 in the first instance. A breach of this level is required to
threaten a deeper pullback and the potential start of a correction. Bulls need
to re-take Friday's 1.2582 high, which would open 1.2670, the 50% retracement of
the decline between Mar 13 - Sep 3.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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.