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Downside Risk Prevails *RES 4:....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Downside Risk Prevails
*RES 4: 1.1333 High Mar 12
*RES 3: 1.1237 High Mar 16
*RES 2: 1.1189 High Mar 17 and key near-term resistance
*RES 1: 1.1048 Low Mar 16
*PRICE: 1.1000 @ 09:38 GMT Mar 18
*SUP 1: 1.0947 76.4% retracement of the Feb 20 - Mar 9 rally
*SUP 2: 1.0878 Low Feb 27
*SUP 3: 1.0855 Low Feb 26
*SUP 4: 1.0830 Low Feb 25
EURUSD is relatively calm this morning however the pair remains vulnerable
following yesterday's break lower. This negates a number of bullish technical
signals highlighted earlier in the week and the break resumes last week's
sell-off exposing a deeper pullback with sights on 1.0947 next, 76.4% of the Feb
20 - Mar 9 rally. A break of the retracement level would open 1.0855.
Yesterday's high of 1.1189 marks initial firm resistance.

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