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PMIs weigh further: *RES 3:.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: PMIs weigh further:
*RES 3: 1.1286/88 High Jul 11 and Jul 5
*RES 2: 1.1246/52 100-dma / cloud top
*RES 1: 1.1193 Low Jul 9
*PRICE: 1.1136 @ 04:13 GMT July 24
*SUP 1: 1.1116 Low May 30
*SUP 2: 1.1107 Low May 23 and bear trigger
*SUP 3: 1.1000 Psychological round number
EURUSD resumed its downward trend early Wednesday as PMIs generally missed
expectations, keeping the sell-signals from the break of key supports yesterday
at 1.1193 and 1.1181 in tact. The outlook remains bearish with the 2% lower
Bollinger Band also under pressure. The underlying bearish tone stems from the
channel breakout on Jul 5 and the subsequent failure to clear resistance in
mid-July. The sell-off on Jul 19 saw bears gain the upper hand. The focus is now
on support at 1.1107, the low of May 23 and the key bear trigger. 1.1193 is
initial resistance.

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