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Post-Fixing Rally Reverses Most Recent Cheapening


Demand Uncertainty Pushing Crude Lower

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Bulls Now Need Close Above........>

EURO-DOLLAR TECHS: Bulls Now Need Close Above $1.1884
*RES 4: $1.1961 High Nov 27
*RES 3: $1.1940 High Dec 1
*RES 2: $1.1884 Alternating hourly support/resistance
*RES 1: $1.1848 High Dec 6
*PRICE: $1.1839 @ 0215GMT
*SUP 1: $1.1813 Hourly support Dec 13 
*SUP 2: $1.1779 Hourly breakout level Dec 13 
*SUP 3: $1.1729 Low Dec 13 
*SUP 4: $1.1713 Low Nov 21
*COMMENTARY: The failure by bears to manage a break of the key $1.1690 support
sees the pair correcting higher with the close above the 21-DMA ($1.1819) adding
support to the bullish case for a move back to $1.1940-61 and above $1.1884 to
confirm. Daily studies are well placed for further topside. Bears now need a
close below $1.1779 to ease immediate bullish pressure and shift focus back to
the key $1.1690 support.

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