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Decent Intraday Recovery *RES.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Decent Intraday Recovery
*RES 3: 1.1250 High Aug 6
*RES 2: 1.1239 High Dec 31
*RES 1: 1.1179 High Jan 3
*PRICE: 1.1168 @ 16:14 GMT Jan 3
*SUP 1: 1.1125 Low Jan 3
*SUP 2: 1.1096 Low Dec 27
*SUP 3: 1.1066/62 Low Dec 20 / 100-dma
EURUSD fell for much of Friday's European morning, bottoming out at 1.1125
before staging a decent intraday recovery. This confirms the downtick as
corrective with the outlook still bullish. Earlier this week, the pair traded
through key resistance of 1.1199, the Dec 13 high. A key S/T support has been
defined at 1.1066, Dec 12 low and the uptrend that started on Oct 2 has once
again resumed. With further gains likely, attention is on 1.1250, Aug 6 high and
1.1286, Jul 11 high. A break of 1.1066 is needed to reinstate a bearish threat.

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