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Rally Losing Momentum The........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rally Losing Momentum 
The EURUSD is still struggling to hold on to the 1.1600 level as the recovery
loses steam. Bulls look for a hold above 1.1628/38 (Intraday high and 50%
retracement level of recent decline) to challenge the 1.1656 area, a break above
which would still be required to shift the outlook positive. A move below 1.1564
would trigger a renewed bearish signal, returning the focus to the downside. A
close below 1.1525/30 adds weight to the bearish scenario. A break below the YTD
low of 1.1509 resumes the longer-term downtrend.

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