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Remains Vulnerable *RES 4:........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Remains Vulnerable
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0926 High May 5
*RES 1: 1.0846 High May 6
*PRICE: 1.0784 @ 10:26 BST May 7
*SUP 1: 1.0727 Low Apr 24 and bear trigger
*SUP 2: 1.0723 Low Mar 24
*SUP 3: 1.0636 Low Mar 23 and key support
*SUP 4: 1.0597 1.00 projection of Mar 30 - Apr 6 sell-off from Apr 15 high
EURUSD remains soft having traded sharply lower again yesterday. Monday's price
pattern was a bearish engulfing Japanese candle pattern and clearly highlighted
the market's sentiment shift to bearish this week. The pair has traded through
support at 1.0799, Apr 27 low. The break of this level has exposed the 1.0727,
Apr 24 low. Clearance of this 1.0727 would open 1.0636, Mar 23 low. Initial
resistance is at 1.0846.

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