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Free AccessWeak Finish *RES 4: 1.1228 High...>
EURO-DOLLAR TECHS: Weak Finish
*RES 4: 1.1228 High Aug 13
*RES 3: 1.1175/79 200-day MA / Oct 21 high and key bull trigger
*RES 2: 1.1140 High Nov 5
*RES 1: 1.1097 High Nov 21
*PRICE: 1.1033 16:00 GMT Nov 22
*SUP 1: 1.1031 Intraday low
*SUP 2: 1.1015 Low Nov 15
*SUP 3: 1.0989 Low Nov 14 and key support
*SUP 4: 1.0967 Recent double top projection
EUR/USD succumbed to selling pressure in the latter half of the Friday session,
prompting a poor finish for the pair. Support at the 1.1048/53 zone gave way,
opening further losses as markets resume trading Monday. A recovery above the
week's 1.1097 high is now needed to repair the outlook and would signal scope
for an extension higher and open 1.1140 and 1.1179, Nov 5 and Oct 21 high
respectively. Key support lies at 1.0989, Nov 12 low.
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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.