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All eyes on channel resistance:...>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: All eyes on channel resistance:
*RES 4: 1.1164 High Aug 26
*RES 3: 1.1129 1.0% 10-dma envelope
*RES 2: 1.1098/99 High Aug 28 / Channel resistance drawn off the Jun 25 high
*RES 1: 1.1087 High Sep 12
*PRICE: 1.1067 @ 03:14 GMT Sep 13
*SUP 1: 1.0927/26 Low Sep 12 and Sep 3
*SUP 2: 1.0920 3.0% Lower Bollinger Band
*SUP 3: 1.0864 76.4% retracement of Jan 2017 - Feb 2018 rally
*SUP 4: 1.0860 Bear channel base drawn ff Jun 25 high
For those looking for intraday volatility, the ECB delivered in size Thursday.
The quick recovery in EURUSD back to the day's highs will instill some
confidence in bulls. 1.1085, Sep 5 high and near-term target has been probed and
attention turns to 1.1099, the bull channel top drawn off the Jun 25 high. This
latter is a key hurdle for bulls. 1.1000 is expected to provide some support,
the key level though lies at 1.0927/26. A break would dent bullish sentiment.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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