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1.1448 in Focus After closing.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 1.1448 in Focus
After closing above the 50-dma on Friday for the first time in just over a week,
the upside momentum has remained and we have moved higher still and broken above
the Jan 16 highs of 1.1425. The 1.1448 level provides the next upside target,
representing both the 100-dma and the 50% retracement of 1.0341-1.2555. Above
here the psychological 1.15 level lies ahead of the YTD high of 1.1573. Bears
initially need to close back below the 50-dma at 1.1388 to target the 1.1300/05
area, below which would suggest a return to the Nov lows & long-term 61.8% fibo
at 1.1216/13.

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