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EURO-DOLLAR TECHS: 1.1750 Key Level
Having closed above the 100-dma yesterday, down trendline resistance from the
July high comes into view. A close above the Aug 28 high and strong resistance
reported at the 1.1750 level would provide fresh bullish impetus and trigger a
large inverse head-and-shoulders formation. Bears need a clean break of 1.1600
to resume the downtrend and return focus back to the ytd low at 1.1301.