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Close Above 1.13 Keeps Bulls'.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Close Above 1.13 Keeps Bulls' Hopes Intact
- Traders faded the European morning rally on Thursday, leaving the rate to
trade either side of 1.1300 into the NY close. The close above the figure
pleased bulls, allowing them to focus on the 100-dma and down trendline
resistance off the Jan 31 high at 1.1367/73. Above here would allow a run at
1.14 and the Feb 28 high at 1.1420 to post a higher high. Bears' focus remains
on the March 7 low & channel base support at 1.1177/58, a break opens the June
20 2017 low & trendline support off Nov 2017 lows at 1.1119/00.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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