Free Trial

YTD Lows Still in View The......>

EURO-STERLING TECHS
EURO-STERLING TECHS: YTD Lows Still in View
The rate briefly dipped below 0.85 in early Asia-Pac trade before finding some
support ahead of YTD lows. The broader downtrend remains intact following
Friday's firmer GBP and a close below 0.85 would open the YTD lows printed in
mid-March at 0.8473. Any fall through here would see key Fib support tested at
the 0.8469 level, marking the 38.2% retracement of the 0.6938 - 0.9415 range. To
the upside, bulls need to recover the 55-dma at 0.8602 before returning the
focus to the Apr 23 high and 0.8700 level.

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.