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EURO-DOLLAR TECHS: Ebbs Lower as Draghi Departs
*RES 3: 1.1206/08 200-DMA / 61.8% of Jun 25 - Oct 1 decline
*RES 2: 1.1191 High Aug 14
*RES 1: 1.1179 High Oct 21
*PRICE: 1.1096 15:54 GMT Oct 24
*SUP 1: 1.1093 Low Oct 24
*SUP 2: 1.1069/60 Trendline support drawn off Oct 1 low / 50-day EMA
*SUP 3: 1.1023 Low Oct 16
After a volatile morning in which the pair rallied to touch 1.1163, the
sell-on-rallies theme re-emerged as Draghi concluded his time at the ECB.
Nonetheless, the underlying uptrend remains intact with bullish structures in
place and trending related indicators still pointing north. Further EUR
appreciation is seen likely near-term. If a deeper correction unfolds through,
strong support is seen coming in around 1.1060, the 50-day EMA and close to
trendline support that intersects at 1.1069, drawn off Oct 1 low.