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- RES 4: 135.757 76.4% retrace of the May 4 - Jun 10 decline (cont)
- RES 3: 135.500 High May 22 (cont)
- RES 2: 135.421 61.8% retrace of the May 4 - Jun 10 decline (cont)
- RES 1: 135.350 High Jul 31
- PRICE: 135.020 @ 06:14 BST Aug 6
- SUP 1: 134.940 Low Jul 29
- SUP 2: 134.610/560 Low Jul 20 / Low Jul 13
- SUP 3: 134.510 Low Jul 2 and key support
- SUP 4: 134.410 Low Jun 17
After a constructive Tuesday session for bulls, markets fully reversed Wednesday to finish having printed a new weekly low. Prices failed to take out the Friday high at 135.350 and trade was one way traffic to a new weekly low just above last Wednesday's 134.940. For bulls to retake control of the narrative, markets need to take out 135.35 initially ahead of 135.421 (cont), 61.8% of the Apr - Jun sell-off.
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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.