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Initial EUR/USD rebounds following......>

EURO-DOLLAR
EURO-DOLLAR: Initial EUR/USD rebounds following the bearish breakout struggled
to gain traction on Friday, as the pair remained below the former triangle
support, now trendline resistance at $1.1602. This is turning the daily & medium
term weekly charts bearish. The pair now trades below the the initial downside
target of $1.1575 at $1.1561, with the June 21 low of $1.1509 providing the next
notable level of support. Bulls need a recovery through $1.1656 to stabilise the
near-term outlook.
- There is a lack of tier 1 EZ headline economic releases due this week.
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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