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EURO-DOLLAR TECHS: Falling Wedge
EURUSD consolidates the move above 1.1150 and remains locked in a falling wedge.
Bulls need to recover 1.12, before challenging trendline resistance off the Jan
high & 55-dma at 1.1216/24. A break of 1.1243 would confirm the chart pattern
which could trigger further gains towards the 100-dma at 1.1281. Bears need to
clear Thursday's low at 1.1116 to keep focus on the downside. This would bring
the May 23 ytd low back into view at 1.1107, ahead of a run at the 1.1100 level.