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Positive recovery to extend:......>

EURO-DOLLAR TECHS
MNI (London)
EURO-DOLLAR TECHS: Positive recovery to extend:
*RES 4: 1.1146/64 1.0% 10-dma envelope / High Aug 26
*RES 3: 1.1120 Trendline resistance drawn off the Jun 25 high
*RES 2: 1.1098 High Aug 28
*RES 1: 1.1085 High Sep 5
*PRICE: 1.1026 @ 03:30 BST Sep 9
*SUP 1: 1.0969 Low Sep 4
*SUP 2: 1.0926 Low Sep 3 and key support
*SUP 3: 1.0893/81 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 is expected to maintain a bullish tone for now, following the strong
bounce last week off Tuesday's 1.0926 low. The focus is on Thursday's 1.1085
high where a break would pave the way for strength toward trendline resistance
drawn off the Jun 25 high, at 1.1120. This marks the next key hurdle for bulls.
Momentum studies are pointing higher, supporting the positive outlook. A return
below 1.1000 would concern bulls, the first significant support is 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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