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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
(Z17) 98.585 Support Becomes....>
US EURODOLLAR TECHS: (Z17) 98.585 Support Becomes Pivotal To Near Term Direction
*RES 4: 98.695 38.2% Fibo of 99.270-98.335
*RES 3: 98.680 May 30 2016 low, now resistance
*RES 2: 98.655 May 18 high
*RES 1: 98.635 Sep 8 high
*PRICE: 98.590 @1056GMT
*SUP 1: 98.585 Minor congestion area Aug 30-Sep 5
*SUP 2: 98.560 Aug 25 low, Aug 3-4 highs
*SUP 3: 98.545 Congestion area Jul 26-Aug 10
*SUP 4: 98.520 Jul 25-Jul 26 lows
*COMMENTARY* After weeks of consolidation we saw a break above 98.580-98.590
resistance back on Aug 29. This has allowed some further progression and with
the subsequent move through 98.630, this brought the May 18 high at 98.655 back
into view. As a result, support also rises, focus now on 98.585, loss would
suggest scope for a deeper 98.560-98.545 fall as we give back some of the recent
gains from 98.520.
To read the full story
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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.