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Failed Recovery above $1.13.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Failed Recovery above $1.13
Despite a worthy attempt in the late Asia-Pac session, the rate failed to
recover above the $1.13 mark, with bears in control for now. This keeps the Nov
13 ytd low/61.8% retracement from 0.8230-1.6038 at 1.1216/13 in play. A fall
through here would open the May 30 2017 low of 1.1110 as well as the 1.09 level.
To switch the outlook bullish, EUR/USD needs a recovery above down trendline
resistance from the September highs at 1.1407 and a close above the 50%
retracement of 1.0341-1.2555 at 1.1448. This would return focus to the the
50-dma at 1.1465, 100-dma at 1.1536 and down trendline resistance from the April
highs at 1.1564.

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