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Downside Risk *RES 4: 1.1333......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Downside Risk
*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: 1.1043 @ 05:41 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 failed to hold above the Monday low of 1.1048. This negates a number of
bullish technical signals highlighted earlier in the week. The break lower
resumes last week's sell-off and exposes a deeper pullback with sights on 1.0947
next, the 76.4% retracement of the Feb 20 - Mar 9 rally now that 1.1003, Mar 2
low has also been breached. A break of the retracement level would open 1.0855.
Yesterday's high of 1.1189 marks initial firm resistance.

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