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Clears Key Resistance *RES 4:.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Clears Key Resistance
*RES 4: 1.1118 High Jan 21
*RES 3: 1.1096 High Jan 31 and Feb 3
*RES 2: 1.1063 61.8% retracement of the Dec 31 - Feb 20 low
*RES 1: 1.1053 Intraday high
*PRICE: 1.1004 @ 16:52 GMT Feb 28
*SUP 1: 1.0942 Low 50% retracement of yesterday's range
*SUP 2: 1.0878 Low Feb 26
*SUP 3: 1.0830 Low Feb 25
*SUP 4: 1.0805 Low Feb 24
EUR/USD remains bullish. The pair on Friday cleared critical resistance at the
1.1003/9 level. This marked the intersection of trendline resistance drawn off
the Dec 31 high and the 50% retracement of the sell-off between Dec 31 and Feb
20. The break reinforces the current rally and opens 1.1063, the 61.8%
retracement. On the downside, the Thursday low of 1.0878 marks an important
near-term support. Initial support though is seen at 1.0942.

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