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50% Retracement Provides Some.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 50% Retracement Provides Some Support
EURUSD dipped as low as 1.1159 at the Asia crossover, finding some support
around the 50% retracement of last week's rally off the lows. Bulls look to
recover the 1.12 level to open down trendline resistance off the Jan high &
55-dma at 1.1226/31. Further resistance is located at 1.1263/65 which marks the
May 13 & May 1 highs. Bears need to take out Thursday's low and the 1.11 level
to reignite downside momentum. Below here would likely accelerate the move
towards the May 18 2017 low at 1.1076, ahead of trendline support off the Nov 7
2017 low at 1.1048.

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