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Free AccessTrend Direction Remains Down
- RES 4: 1.0198 High Sep 12 and a key resistance
- RES 3: 1.0051 High Sep 20
- RES 2: 0.9999 High Oct 4 and a reversal trigger
- RES 1: 0.9901 Bear channel top from Feb 10 high
- PRICE: 0.9782 @ 06:09 BST Oct 20
- SUP 1: 0.9711/9633 Low Oct 17 / 13
- SUP 2: 0.9536 Low Sep 28 and key support
- SUP 3: 0.9501 1.382 projection of the Aug 10 - Sep 6 - 12 price swing
- SUP 4: 0.9362 Bear channel base drawn from the Feb 10 high
EURUSD faced resistance Wednesday. The first key resistance intersects at 0.9901. This is the top of the bear channel drawn from the Feb 10 high. A clear break of this hurdle would highlight a channel breakout and a stronger bullish reversal. For now, with price trading inside the channel, the trend remains down and recent gains are considered corrective. A stronger move lower would open 0.9633, the Oct 13 low.
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Why MNI
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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.