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1.1526 The Next Downside Target...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 1.1526 The Next Downside Target
Yesterday's weak close below 1.1600 keeps the recent downtrend intact with bears
focusing on the Sep 10 low at 1.1526. A break opens the ytd low at 1.1301 and
extends the broader bearish outlook. Bulls initially need to reclaim the 100-dma
at 1.1647, before targeting the 1.1800 level. Above here opens the June 14 high
at $1.1851, ahead of the 50% retracement (Feb high - Aug low) & 200-dma at
1.1928/41.

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