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Briefly Above 1.1700 Renewed......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Briefly Above 1.1700
Renewed risk appetite was quickly reversed following China's trade retaliation
headlines. EURUSD touched highs of 1.1718 before drifting back under 1.1700.
Bulls need a close above the 100-dma at 1.1670 to bring trendline resistance
from the July high into view at 1.1712. A break of the Aug 28 high at 1.1733
would provide fresh impetus and trigger a large inverse head-and-shoulders
formation. Bears need a close below 1.1600 to shift focus back to the downside,
suggesting a resumption of weakness towards the ytd low at 1.1301.

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