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Bull channel key focus for........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bull channel key focus for bulls:
*RES 3: 1.1489 High Feb 1
*RES 2: 1.1434/48 Bull channel top and High Mar 20
*RES 1: 1.1412 High Jun 25
*PRICE: 1.1375 @ 16:00 GMT June 28
*SUP 1: 1.1344/42 Low Jun 25/200-dma
*SUP 2: 1.1320 200-hma
*SUP 3: 1.1318 High Jun 20/Down trendline from Jan 10
Strong French CPI data amid the backdrop of a weaker dollar boosted the euro
towards 1.14, a level that has so far proved hard to overcome. Tuesday saw the
pair stall at the top of its bull channel at 1.1408 that day, printing a high of
1.1412 before retreating. At this stage, with the bull trend intact, the failure
at 1.1400 is seen as a temporary setback with some consolidation possible
near-term. For bulls, a move above 1.1412 would confirm a resumption of the
uptrend, opening 1.1448 and 1.1489. Note that today, the bull channel top
intersects at 1.1434. First support is at 1.1344/42.

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