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Recovery Left Wanting The.........>

EURO-DOLLAR TECHS: Recovery Left Wanting
The modest recovery during US trading hours does little to repair the bearish
picture, with the broader downward trend remaining in place following fresh
cycle lows printed on Monday. Resistance ahead of 1.15 is growing in importance
and bears will be keen to see the pair falter ahead of that mark. A close below
Monday's low at 1.1459 may extend the selloff. Bulls need to close above 1.1550
to shift the short-term focus higher towards the Oct 3 high. Above here would
open 1.1600 and the 100-dma at 1.1632.

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