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Layers of Resistance Having.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Layers of Resistance
Having closed above 1.1600 on Friday, EURUSD rallied on broad USD weakness
before topping out at 1.1653 Monday. EUR/USD looks to close toward the upper end
of the day's range, keeping the bullish momentum in tact at the close today.
Bulls look to re-test earlier highs where an inverse head-and-shoulders
formation is pointing to further gains towards 1.1700, which marks down
trendline resistance from the June high. Above here targets the 100-dma
currently at 1.1768. Bears keep focus on the 1.15 area to shift momentum back
toward the YTD Aug 15 low of 1.1301.

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