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Positive recovery intact: *RES....>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Positive recovery intact:
*RES 4: 1.1157/64 1.0% 10-dma envelope / High Aug 26
*RES 3: 1.1126 Trendline resistance drawn off the Jun 25 high
*RES 2: 1.1098 High Aug 28
*RES 1: 1.1085 High Sep 5
*PRICE: 1.1035 @ 03:44 GMT Sep 6
*SUP 1: 1.0969 Low Sep 4
*SUP 2: 1.0926 Low Sep 3 and key support
*SUP 3: 1.0889/87 3.0% Lower Boll Band/Bear channel base drawn off Jun 25 high
*SUP 4: 1.0865 1.00 projection of Jun 25 - Aug 1 decline from Aug 6 high
EURUSD extended recent recovery off the week's lows Thursday, although profit
taking in US hours took the pair off its best levels. To maintain this weeks
bullish developments, a break above yesterday's 1.1085 high is required. This
would pave the way for strength toward trendline resistance drawn off the Jun 25
high at 1.1126, also seen as a key hurdle for bulls. A return below 1.1000 would
be a concern for bulls, The first significant support at 1.0969.
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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