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Recovery Fails To Extend EURUSD...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Recovery Fails To Extend
EURUSD touched recovery highs of 1.1371 before drifting back into the range. A
number of moving averages come in around yesterday's high and continue to cap
gains. Focus remains on the 100-dma at 1.1396, ahead of cloud top resistance at
1.1430. Above here would suggest a potential return to down trendline resistance
& Jan 15 high at 1.1475/90. Downside focus remains on the Feb 15 low at 1.1234,
a break would trigger a potential bear flag, strengthening the downtrend toward
1.1187 which represents the 61.8% retracement of 1.0341-1.2555.

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