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Bulls Need To Clear 1.15..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Need To Clear 1.15
Despite soft Italian & German mfg PMI readings, EURUSD cleared the 100-dma with
ease, underpinned by a stronger-than-expected EU Core CPI print. Bulls look to
reclaim the 1.15 level, a close above brings yesterday's high & down trendline
resistance off the Sep highs into view at 1.1514/22. Bears need a close back
below 1.1400 and the 50-dma before targeting the 1.1300/05 area, below which
would suggest a return to the Nov lows & long-term 61.8% fibo at 1.1216/13.

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