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Bearish Price Sequence *RES 4:....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Price Sequence
*RES 4: 1.1495 High Mar 09 and major resistance
*RES 3: 1.1422 High Jun 10 and the bull trigger
*RES 2: 1.1353 High Jun 16 and intraday key resistance
*RES 1: 1.1261 High Jun 18
*PRICE: 1.1198 @ 05:47 BST Jun 22
*SUP 1: 1.1168 Low Jun 19
*SUP 2: 1.1163 High Mar 30
*SUP 3: 1.1098 50.0% retracement of the May 14 - Jun 10 rally
*SUP 4: 1.1077 50-day EMA
EURUSD hit a new weekly low Friday after breaching support at 1.1195, Jun 4 low.
The outlook remains bearish following the reversal off 1.1422, Jun 10 high. This
recent move lower has established a clear sequence of lower lows and lower highs
reinforcing the bearish theme. Further price weakness would open 1.1163 next,
Mar 30 high and 1.1098, a retracement level. Initial firm resistance is 1.1353,
Jun 16 high.

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