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1.1240/50 Key resistance..........>

EURO-DOLLAR TECHS: 1.1240/50 Key resistance remains:
*RES 4: 1.1296 200-dma
*RES 3: 1.1281/84/86 High Jul 18/High Jul 15/High Jul 11
*RES 2: 1.1250/54/60 High Aug 06/Trendline drawn off Jan 10 high/Cloud base
*RES 1: 1.1226/40 100-/50dma
*PRICE: 1.1196 @ 14:45 GMT Aug 08
*SUP 1: 1.1168 Low Aug 06
*SUP 2: 1.1153 200-hma
*SUP 3: 1.1102 Low Jul 25
*SUP 4: 1.1070/68 Low Aug 02/Lower Boll Band (2%)
EURUSD still locked in a 1.1150-1.1250 range, with Italian politics front &
centre once again. For bulls to build on the base established at last Thursday's
low of 1.1027, a close above the 100-dma & previously hard to overcome 1.1240/50
area is required to extend the uptrend. A break opens trendline resistance drawn
off the Jan 10 high & cloud base at 1.1254/60. Short-term support is located at
the 200-hma of 1.1153, a break opens the Jul 25 low at 1.1102.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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