Mimics Tuesday's Late Spill.......>

EURO-DOLLAR TECHS: Mimics Tuesday's Late Spill Higher

In early Europe, EURUSD touched recovery highs of 1.1358, before drifting back

into the range. Ahead of the close, however, another wave of momentum carried

the pair north of $1.1360 to challenge the 21-dma. Above here, topside focus

remains on the 100-dma at 1.1397, ahead of cloud top resistance at 1.1430. Above

here would suggest a potential return to down trendline resistance & Jan 15 high

at 1.1475/90. Downside focus remains on the Feb 15 low at 1.1234, a break would

trigger a potential bear flag, strengthening the downtrend toward 1.1187 which

represents the 61.8% retracement of 1.0341-1.2555.