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Channel top still capping the.....>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Channel top still capping the upside:
*RES 4: 1.1191 High Aug 14
*RES 3: 1.1164 High Aug 26
*RES 2: 1.1133/51 2% Upper Bollinger Band / 1.0% 10-dma envelope
*RES 1: 1.1072/1109 Channel resistance drawn off May 26 high / High Sep 12
*PRICE: 1.1038 @ 04:07 GMT Sep 19
*SUP 1: 1.0990 Low Sep 17
*SUP 2: 1.0927/26 Low Sep 12 and Sep 3
*SUP 3: 1.0915 3.0% Lower Bollinger Band
*SUP 4: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally
EURUSD retraced following yesterday's Fed decision. Wednesday's session however
stopped short of any breakout, leaving recent support/resistance levels intact.
A bearish tone dominates overall. In candle terms a shooting star on Sep 13
warned of a top and Tuesday's bearish engulfing reinforces recent bearish
developments, with prices still below channel resistance drawn off the Jun 25
high. A break of Friday's 1.1109 high is required to confirm a reversal.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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