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Consolidation Above 1.16..........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Consolidation Above 1.16
Yesterday's rally above 1.1650 failed to hold, keeping the pair tied to a narrow
range. Bulls continue to focus on trendline resistance/100-dma at 1.1700/05 and
the Aug 28 high at 1.1733. Above here targets the June highs at 1.1851 ahead of
the 200-dma at 1.1954. Bears need to close back below 1.16 to resume the
downtrend with 1.1500 seen as the next support area, a break below here brings
the ytd low at 1.1301 into view.

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