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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.