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Back Under 1.1700 EURUSD failed...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Back Under 1.1700
EURUSD failed to consolidate European morning gains with the reversal extending
back under 1.1700. Bulls need a weekly close above the 100-dma at 1.1678 to keep
the recent uptrend intact, bringing down trendline resistance from the July high
into view. A move above the Aug 28 high and 1.1750 level would provide fresh
bullish impetus and trigger a large inverse head-and-shoulders formation. Bears
need a clean break of 1.1600 to resume the downtrend and return focus back to
the ytd low at 1.1301.

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