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Key Trendline Support Cleared

EURO-DOLLAR TECHS
  • RES 4: 1.1881 High Oct 21 and the bull trigger
  • RES 3: 1.1839 High Oct 27
  • RES 2: 1.1798 High Oct 28
  • RES 1: 1.1759 Intraday high
  • PRICE: 1.1712 @ 12:53 GMT Oct 29
  • SUP 1: 1.1689 Low Oct 15 and a key support
  • SUP 2: 1.1612 Low Sep 25 and the bear trigger
  • SUP 3: 1.1576 0.764 proj of Sep 1 - 25 sell-off from Oct 21 high
  • SUP 4: 1.1541 Low Jul 23

EURUSD remains under pressure and has today confirmed a clear breach of its short-term trendline support drawn off the Sep 28 low. The clear break, confirmed by a move below yesterday's low of 1.1718, strengthens a bearish case and opens 1.1689, Oct 15 low and a key support. A break of 1.1689 would open 1.1612, Sep 25 low and the primary bear trigger. Initial resistance is at 1.1759, today's intraday high.

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