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1.1800 Proving Hard To Overcome...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 1.1800 Proving Hard To Overcome
EURUSD topped out ahead of 1.1780 with the 1.1800 level so far proving hard to
overcome. Above 1.1724 keeps the recent uptrend intact with bulls focusing on a
break of 1.1800, ahead of the June 14 high at 1.1851. The 50% retracement (Feb
high - Aug low) & 200-dma resistance levels are placed behind at 1.1928/46. A
close below neckline support at 1.1724 re-opens the 100-dma at 1.1659. A break
below here is needed to shift the focus back to the downside, suggesting a
resumption of weakness towards the Sep 10 low at 1.1526.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com