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Bulls Targeting Key 1.12 Level....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bulls Targeting Key 1.12 Level
Strong German Saxony CPI & Spain GDP underpinned allowing the EUR to extend its
rally off Friday's low. The single currency looks set to register its third
consecutive session of gains with bulls targeting a break of the 1.12 level.
Above here would reignite momentum opening the 50% retracement of the recent
fall & 21-dma at 1.1218/32, ahead of the Apr 22 high at 1.1262. Bears downside
focus remains on the Apr 26 & May 30 2017 lows at 1.1112/10. Protection is
expected ahead of the 1.11 handle, with a break here likely accelerating the
move toward the May 18 2017 low & down trendline at 1.1076/70.

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