CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Trades Below Key Support To Resume Downtrend

EURUSD TECHS
  • RES 4: 1.0268 High Aug 15
  • RES 3: 1.0193 High Aug 18 and Channel top from the Feb 10 high
  • RES 2: 1.0090 High Aug 26 and key near-term resistance
  • RES 1: 0.9951/1.0057 Intraday low / 20-day EMA
  • PRICE: 0.9888 @ 06:10 BST Sep 5
  • SUP 1: 0.9883 1.764 proj of Jun 9-15-27 swing
  • SUP 2: 0.9800 Round number support
  • SUP 3: 0.9785 2.00 projection of the Jun 9 - 15 - 27 price swing
  • SUP 4: 0.9655 Channel base drawn from the Feb 10 high

EURUSD is trading lower this morning and has traded through support at 0.9901, the Aug 23 low. The break lower confirms a resumption of the downtrend and sets the scene for a continuation lower inside the bear channel, drawn from the Feb 10 high. The move lower also maintains the bearish price sequence of lower lows and lower highs. This opens the 0.9800 handle next.

Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign 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.