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In a piece released on Monday MNI.......>

EURO-DOLLAR
EURO-DOLLAR: In a piece released on Monday MNI highlighted that EURUSD has based
ahead of the long term pivotal support at 1.1491 (see MNI analysis email from
May 29). The rate has now broken descending channel resistance, opening a move
toward 1.1855/1.1962 from the 38.2%/50% retracement levels of 1.2414-1.1510
- 14-day RSI bottoming and set to break out, the MNI FX Technical Signal Monitor
is starting to generate bullish sentiment on an intraday and cloud basis.
- EURUSD has registered gains in June for 6 of the last 7 years.
- EURUSD 1m & 3m risk reversals have priced out any further Italian risk to the
EUR.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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