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Consolidating: *RES 4: 1.1250.....>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Consolidating:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1211/15 50-dma and 100-dma
*RES 2: 1.1158 High Aug 15
*RES 1: 1.1114 High Aug 19
*PRICE: 1.1083 @ 17:15 GMT Aug 22
*SUP 1: 1.1066/64 Low Aug 16/Intraday low
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.1000 Psychological level / Channel base drawn off the Jan 10 high
*SUP 4: 1.0821 Low Apr 24 2017
EURUSD is consolidating around 1.11. The outlook remains bearish, however an
important intraday resistance at 1.1114, Monday's high was challenged after the
release of the PMI data, but failed to break. The pair needs to move below last
weeks 1.1066 low to reopen the key bear trigger at 1.1027. A break of the latter
would confirm a resumption of the downtrend and open 1.1000 next. If 1.1114 is
breached there is scope for a corrective bounce towards 1.12.
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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