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100-dma in sight With 1.1700......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 100-dma in sight
With 1.1700 breached and a close above almost certain, bulls set their sights on
the 100-dma at 1.1762. The pair hasn't managed to break and close above this
level since December last year, which was followed by a rally of as much as 6%.
The rally continues to gain traction with an inverse head-and-shoulder formation
pointing to a potential move to 1.19. The July 31 high provides next resistance
at 1.1746. Bears need to see a close back below 1.16 to take the pressure off
and allow them to focus on the 1.15 area to shift momentum back toward the YTD
Aug 15 low of 1.1301.

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