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Momentum Lacking Above 1.16.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Momentum Lacking Above 1.16
EURUSD topped out at 1.1599 Thursday and managed to briefly break above the mark
in early Friday trade. Nonetheless, momentum was lacking on the break and the
rate quickly corrected down to the high 1.15's. The 50-dma has given way and the
100-dma lies at 1.1629, above which would be particularly constructive for the
medium-term view. Bears, on the other hand, eye a break below Monday's low of
1.1459 to extend the recent sell-off.

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