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Corrective Rebound The EURUSD.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Corrective Rebound
The EURUSD rebound has approached the 1.1611/14 resistance area (Aug 3 spike
high and 38.2% retracement level of recent decline), consistent with a
correction. A recovery through 1.1656 would still be required to stabilise the
near-term outlook. Failure at the initial 1.1611/14 hurdle will return the focus
to the downside, with a close below 1.1525/30 adding weight to the bearish
scenario. A break below the YTD low of 1.1509 resumes longer-term downtrend.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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