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Back on The Defensive.............>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Back on The Defensive
Broad-based dollar demand pressured EURUSD toward 1.1150 with near-term support
at 1.1148 from the 61.8% retracement of last week's rally off the lows. Bears
need to take out the May 23 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.
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.

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