Trial now
AUDUSD TECHS

Consolidating Above Support

EURJPY TECHS

Corrective Cycle

USDJPY TECHS

Consolidating But Remains Bullish

EURGBP TECHS

Recovering, But Not Through Resistance

(U0) Weaker, But Well Off Recent Lows

SCHATZ TECHS
  • RES 4: 112.341 1.236 projection of Jun 5 - 26 rally from Jul 27 low
  • RES 3: 112.280 1.00 projection of Jun 5 - 26 rally from Jul 27 low
  • RES 2: 112.274 76.4% retracement of the May - Jun sell-off (cont)
  • RES 1: 112.196 61.8% retracement of the May - Jun sell-off (cont)
  • PRICE: 112.095 @ 02:39 BST Aug 12
  • SUP 1: 112.075 Low Aug 10
  • SUP 2: 112.045 Low Jul 28
  • SUP 3: 112.020 Low Jul 27 and key support
  • SUP 4: 111.975 Low Jun 11

Schatz futures remain well off the Jul 31 high, with momentum still drained despite a modest bounce Monday-Tuesday. Price action so far has stopped short of any bearish breakout, which keeps focus on 112.195 initially, a break above which would open 112.274 Fib resistance and re-ignite the uptrend and open levels not seen since May for the continuation contract. On the downside, support is at 112.090, Jul 29 low. This coincides with the 200-dma which, if broken, would mark down the outlook.

MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com