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50-dma Providing the Pivot........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 50-dma Providing the Pivot
After closing above the 50-dma on Friday for the first time in just over a week,
the level at 1.1387 has provided support today keeping upside momentum in place.
The 1.1448 level provide 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 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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