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A Meaningful Break Below 1.13.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: A Meaningful Break Below 1.13 Opens YTD Lows
EURUSD is on track to see four descending closes in a row as the downtrend picks
up some pace. The 1.1300 level is fairly significant but a meaningful break
lower would bring the Nov 13 ytd low/61.8% retracement from 0.8230-1.6038 at
1.1216/13 into focus. Below here lies the May 30 2017 low of 1.1110 ahead of the
1.09 level. To change the mood to bullish, we need to initially move above the
down trendline resistance from the September highs which comes in at 1.1407 and
close above the 50% retracement of 1.0341-1.2555 at 1.1448. This would return
focus to the the 50-dma at 1.1473, 100-dma at 1.1540 and down trendline
resistance from the April highs at 1.1564.

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