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EURO-DOLLAR TECHS: Fed Helps Momentum Build Further
Having recovered the 1.12 level on a closing basis Tuesday, momentum continued
to build throughout the European and US sessions as the Fed rate decision
weighed on the greenback. This lifted the pair through resistance at the 21-dma
as well as broken trendline resistance at 1.1250. This sets targets higher to
the 55-dma at 1.1279 and a run at the 1.13 level, ahead of the Mar 25 high &
100-dma at 1.1331/33. Bears need a break back under 1.12 to return the focus to
the Apr 26 & May 30 2017 lows at 1.1112/10.