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Bear Trend Remains Intact After...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bear Trend Remains Intact
After a weak start to the Asian trading session and initially testing Friday's
lows, EURUSD has been grinding gradually higher and is currently flirting with
the 21-dma. However, the overall bearish trend remains intact with the trendline
from September highs at 1.1416. A move below Friday's lows would bring the Oct
31 low of 1.1301 back into focus ahead of the Nov 13 ytd low at 1.1216. To
change the mood to bullish, a close above 1.1448 remains the key (50% of
1.0341-1.2555) with the 50-dma at 1.1481, 100-dma at 1.1544 and down trendline
resistance from the April highs at 1.1570.

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