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Free Access(Z17) 112.180-112.140 Support Keeps....>
SCHATZ TECHS: (Z17) 112.180-112.140 Support Keeps Upside Potential Intact
*RES 4: 112.400 0.2% volatility band
*RES 3: 112.330 38.2% Fibo of 113.310-111.730
*RES 2: 112.280 0.1% volatility band
*RES 1: 112.260 Sep 5 high
*PRICE: 112.200 @1525GMT
*SUP 1: 112.180 Hourly support
*SUP 2: 112.160 Congestion area Aug 30-Sep 1
*SUP 3: 112.140 Aug 29, Aug 30 lows
*SUP 4: 112.090 Aug 25 low
*COMMENTARY* Tuesday saw a rally through the swing target at 112.220, a high of
112.260 attained, before submitting to some near term overbought conditions.
This leaves us shy of a look at the 0.1% volatility band at 112.280, also the
level of the 8 week bull channel top today. Initial support from 112.180 but the
112.160-112.140 region currently provides a stronger back up below.
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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.