Free Trial

Rebound Extends

EURO-DOLLAR TECHS
  • RES 4: 1.1872 High Sep 21
  • RES 3: 1.1859 61.8% retracement of the Sep 1 - 25 sell-off
  • RES 2: 1.1831 High Oct 13 / High Oct 9 and the bull trigger
  • RES 1: 1.1817 High Oct 13
  • PRICE: 1.1797 @ 10:29 BST Oct 20
  • SUP 1: 1.1730 50-day EMA
  • SUP 2: 1.1685 Low Sep 30
  • SUP 3: 1.1612/1581 Low Sep 25 and the bear trigger / Low Jul 24
  • SUP 4: 1.1526 0.764 proj of Sep 1 - Sep 25 sell-off from Oct 9 high

EURUSD continues to push higher as the pair recovers off last week's low of 1.1689 on Oct 15. A fairly strong close Monday strengthens the intraday reversal and exposes key near-term resistance at 1.1831, Oct 12 high. This level represents the trigger for a resumption of the bullish reversal that occurred on Sep 25 and would open 1.1859 initially, a retracement level. Sub 1.1684 levels, Sep 30 low, is required to reinstate a bearish threat.

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.