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Resend: Approaching Key Trendline Support

EURO-DOLLAR TECHS
  • RES 4: 1.1909 1.0% 10-dma envelope
  • RES 3: 1.1881 High Oct 21 and the bull trigger
  • RES 2: 1.1839 High Oct 27
  • RES 1: 1.1798 Intraday high
  • PRICE: 1.1747 @ 09:42 GMT Oct 28
  • SUP 1: 1.1740 Trendline support drawn off the Sep 28 low
  • SUP 2: 1.1689 Low Oct 15 and a key support
  • SUP 3: 1.1612 Low Sep 25 and the bear trigger
  • SUP 4: 1.1541 Low Jul 23

EURUSD is under pressure as the pair extends the recent sell-off from 1.1881, Oct 21 high. Attention is on the key near-term trendline support drawn off the Sep 28 low that today intersects at 1.1740. While the trendline holds, the uptrend since 1.1612, Sep 25 low remains intact. A break however would undermine the bullish tone and expose 1.1689, Oct 15 low. Initial resistance is at 1.1798, today's intraday high.

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