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Extends The Downtrend The.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Extends The Downtrend
The risk-averse theme further pressured EURUSD through 1.1250 to its lowest
levels since early March. Recovery efforts hold shallow and keep the recent
downtrend intact with immediate focus on the Mar 11 low & long-term 61.8%
retracement level at 1.1222/13. Below here would see bears target a break of the
Mar 7 ytd low at 1.1177, ahead of channel base support off the Nov lows at
1.1169. Bulls need to recover 1.1330/35 to change the outlook, opening the
100-dma & broken trendline resistance at 1.1361/64.

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