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Fed saves bulls, EURUSD...........>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Fed saves bulls, EURUSD rallies:
*RES 4: 1.1390 High Mar 22
*RES 3: 1.1348 High Jun 7 and key resistance
*RES 2: 1.1346 2.0% Upper Bollinger Band
*RES 1: 1.1289 High Jun 14
*PRICE: 1.1270 @ 03:45 GMT June 20
*SUP 1: 1.1181 Low Jun 18
*SUP 2: 1.1152 Low Jun 3
*SUP 3: 1.1116 Low May 30
*SUP 4: 1.1107 Low May 23 and key support
EURUSD has rallied in Asia. The upside follow through on the back of the dovish
Fed rate developments highlights a strong bullish short-term technical outlook.
Scope is for a move the psychological 1.1300 handle and the highs seen in early
June layered from 1.1348. On the downside, a revisit of 1.1200 would negate the
most recent bullish developments and refocus attention on support at 1.1152.
Clearance of 1.1152 would again open 1.1116 and 1.1100.
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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