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Focus Remains On 1.12 After.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Focus Remains On 1.12
After moving higher over the Easter period with thin liquidity, EURUSD has
consolidated, but failed to build on, its gains. This leaves the focus on the
downside. Bears look to initially clear the 1.1225 level to bring 1.12 into
focus. A break here is needed to reignite downside momentum, opening the Mar 7
low & channel base support at 1.1177/55. Bulls need to recover 1.13 before
challenging the double-top resistance area at 1.1324. A break would generate
renewed upside momentum, opening a move towards the 50% retracement level &
100-dma at 1.1344.

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