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Falters Above 1.16 The pair's.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Falters Above 1.16
The pair's failure to hold above the 1.16 level amid a backdrop of broad USD
demand will have disappointed bulls, but its modest recovery heading into the
close has shown some resilience. 1.16 clearly remains the near-term hurdle, but
a close above the 1.1611 50-dma would provide a big boost toward 1.1702. Bears
focus on the 1.15 area to shift momentum back toward the YTD Aug 15 low of
1.1301.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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