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EURO-DOLLAR TECHS: Failure To Build On Bullish Break
EURUSD has slightly breached the upper boundary of the six-week triangle
formation and the key 1.1744 resistance level (July 26 high). However, failure
to hold above here so far has seen intraday momentum turn lower, consistent with
a pullback into the consolidation range. The ability to hold above 1.1620 and
close above 1.1744 would now be needed to restore the recent bullish momentum
allowing a recovery to target 1.1853. A break below the 1.1600 resumes the
longer term downtrend.