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Dragged Lower Again *RES 4:.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Dragged Lower Again
*RES 4: 1.1014 High Feb 6
*RES 3: 1.0958 High Feb 10
*RES 2: 1.0926 High Feb 12 and key near-term resistance
*RES 1: 1.0889 High Feb 13
*PRICE: 1.0844 @ 09:59 GMT Feb 17
*SUP 1: 1.0827 Low Feb 14
*SUP 2: 1.0803 1.618 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 4: 1.0722 2.0% lower 10-dma envelope
EURUSD struggled again Friday as bearish pressure continues to drag the pair
lower with a strong impulsive sell-off still dominating. The former key support
at 1.0879, Oct 1 low was breached last week further reinforcing bearish
conditions with the focus on 1.0803 next, a Fibonacci projection. We continue to
stress that although the downtrend remains intact, the trend is steep and the
risk of a sharp reversal increases each day. Initial resistance is at 1.0889.

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