Trial now
EURUSD TECHS

Bearish Threat Remains, Despite Intraday Rally

COMMODITIES

Gold Bumped to New Multi-Month Highs

BRAZIL

BRL Hedging Volumes Surge Post-BCB

EQUITIES

Stocks Mixed as Bluechips Gain, Tech Lags

Underpinned

CABLE TECHS
  • RES 4: 1.3312 2.0% 10-dma envelope
  • RES 3: 1.3284 High Dec 31, 2019
  • RES 2: 1.3200 High Mar 9 and a key resistance
  • RES 1: 1.3186 High Aug 6
  • PRICE: 1.3110 @ 05:18 BST Aug 7
  • SUP 1: 1.2945/01 Low Jul 30 / 20-day EMA
  • SUP 2: 1.2838 Low Jul 28
  • SUP 3: 1.2781 Low Jul 27
  • SUP 4: 1.2717 Low Jul 24

The BoE rate decision underpinned another new weekly high at 1.3186, keeping the momentum pointed higher for now. This broader uptrend has been in place since the reversal on Mar 20 and remains the key driver. Attention is on 1.3200 next, Mar 9 high where a break would open 1.3284, Dec 31 2019 high. On the downside, support is at 1.2945, Jul 30 low.

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