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Failed to clear 1.1114: *RES 4:...>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Failed to clear 1.1114:
*RES 4: 1.1250 High Aug 06 and key resistance
*RES 3: 1.1208/13 50-dma and 100-dma
*RES 2: 1.1158 High Aug 15
*RES 1: 1.1114 High Aug 19
*PRICE: 1.1068 @ 03:54 GMT Aug 23
*SUP 1: 1.1066 Low Aug 16
*SUP 2: 1.1027 Low Aug 1 and key support
*SUP 3: 1.1000/0998 Psychological level / Channel base drawn off the Jan 10 high
*SUP 4: 1.0821 Low Apr 24 2017
The EURUSD trend outlook is unchanged with bearish conditions dominating.
Intraday resistance at 1.1114, Monday's high was challenged yesterday after the
release of PMI data, but failed to break. The pair needs to move below recent
lows at 1.1066/64 to reopen the key bear trigger at 1.1027. A break of the
latter would confirm a resumption of the downtrend and open 1.1000. If 1.1114 is
breached, there is scope for a corrective bounce towards 1.1200.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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