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Focus on Jun lows: *RES 3:........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Focus on Jun lows:
*RES 3: 1.1327/44 200-dma / Low Jun 25
*RES 2: 1.1288    High Jul 5
*RES 1: 1.1257/61 100-dma / Bull channel support now resistance
*PRICE: 1.1225    @ 08:24 GMT July 10
*SUP 1: 1.1193/92 Low Jul 9 / cloud base
*SUP 2: 1.1181    Jun 18 low
*SUP 3: 1.1145    2% lower Bollinger band
*SUP 4: 1.1107    YTD low May 23
Despite getting a boost from strong French IP data, EURUSD remains on the
defensive following the break of channel support at 1,1246 on Friday. The
channel is drawn off the May 30 low. Furthermore, yesterday's breach of 1.12
extended the price depreciation that began off the high of Jun 25. With momentum
conditions also in a bearish mode, EURUSD is expected to challenge 1.1181. A
break would open the ytd May 23 low at 1.1107. The former channel support, now
resistance is at 1.1261 today.

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