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55-DMA Keeps Downtrend Intact.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 55-DMA Keeps Downtrend Intact
EURUSD reached as high as 1.1263 yesterday but met resistance at the 55-dma
keeping the bearish trend intact. Bulls need to overcome the 55-dma & May 1 high
in order to turn improve the outlook and open a run at the 100-dma & Apr 17 high
at 1.1317/24. Bears need a close back below 1.1200, before focusing on the May 7
low at 1.1167, ahead of the May 3 low at 1.1135.

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