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Free AccessMNI US OPEN - ECB Set to Deliver Third Consecutive Cut
MNI China Daily Summary: Thursday, December 12
(U9) Key support lies at 112.210.......>
SCHATZ TECHS: (U9) Key support lies at 112.210
*RES 4: 112.429 3.618 Fibo swing projection of May 10-15 move from May 22 low
*RES 3: 112.345 Contract high July 3
*RES 2: 112.315 High Jul 4 and Jul 5
*RES 1: 112.265 High Jul 10
*PRICE: 112.235 @ 03:30 GMT July 12
*SUP 1: 112.210 Low Jul 10 and key support
*SUP 2: 112.160 Low Jun 19
*SUP 3: 112.157 Trendline support drawn off the May 10 low
*SUP 4: 112.147 50-day EMA
U9 Schatz has thus far found support at 112.210, just below the key 112.220
level. Momentum studies continue to point south suggesting the contract remains
vulnerable near-term. However a break of Wednesday's low is required to trigger
fresh weakness that would expose broader trendline support drawn off the May 10
low, at 112.157. An ability to hold above 112.210 and breach resistance at
112.315 would again open the 112.345 contract high.
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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.