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EURO-DOLLAR TECHS: Close Below 1.12 A Bearish Signal
A hawkish Fed press conference saw EURUSD close below 1.12 yesterday and while
bulls have recovered this level in Asian trading the outlook remains negative.
Bulls need to recover the 55-dma at 1.1277, which would open a run at the 1.13
level and downtrend resistance from the Jan highs. Downside focus now turns to
the Apr 26 & May 30 2017 lows at 1.1112/10.