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Rebound Needs To Overcome.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rebound Needs To Overcome 1.1611/14
The EURUSD recovery needs to overcome the 1.1611/14 resistance area (Aug 3 spike
high and 38.2% retracement level of recent decline) to suggest it is anything
more than a short-term correction, while a break above 1.1656 would still be
required to shift the outlook positive. Failure at the initial 1.1611/14 hurdle
would return the focus to the downside, with a close below 1.1525/30 adding
weight to the bearish scenario. A break below the YTD low of 1.1509 resumes
longer-term downtrend.

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