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Retraces Back To The 50-day EMA...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Retraces Back To The 50-day EMA
*RES 4: 1.1393 61.8% retracement of the Mar 9 - Mar 12 sell-off
*RES 3: 1.1333 High Mar 12
*RES 2: 1.1279 50.0% retracement of the Mar 9 - Mar 12 sell-off
*RES 1: 1.1228 38.2% retracement of the Mar 9 - Mar 12 sell-off
*PRICE: 1.1155 @ 17:02 GMT Mar 12
*SUP 1: 1.1056 Low Mar 12
*SUP 2: 1.1052 61.8% retracement of the Feb 20 - Mar 9 rally
*SUP 3: 1.1003 Low Mar 2
*SUP 4: 1.0947 76.4% retracement of the Feb 20 - Mar 9 rally
EURUSD has suffered sharp losses today. The pair has retraced to a key area of
support highlighted by the 50-day EMA at 1.1059 and the 61.8% retracement of the
rally between Feb 20 and Mar 9 at 1.1052. Thus far these levels have held,
however for now the outlook remains bearish. A break of 1.1052 would set the
scene for a deeper sell-off opening 1.1003, the Mar 2 low. Key resistance for
now is today's intraday high of 1.1333.

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