Free Trial

USD Offered as EUR/USD Nearing Key Resistance

EUR

Turnaround in USD being felt most materially in EUR/USD in recent trade, with the pair now narrowing in on yesterday's highs at 1.1993 as it plays catch-up with the earlier strength in EURGBP.

  • MNI Tech flags next resistance in EURUSD at 1.2037, the 61.8% retracement of the Feb 25 - Mar 31 sell-off and a break through here would signal scope for an extension of recent gains.
  • Decent uptick in EUR futures volumes on that move, with over 3,500 contracts changing hands inside 5 minutes (cash equivalent approx. €450mln)

To read the full story

Close

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.