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Selling Pressure Moderates into...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Selling Pressure Moderates into the Close
*RES 3: 1.1039/53 High Apr 1 / High Mar 31
*RES 2: 1.0991 High Apr 15 and the bull trigger
*RES 1: 1.0911 High Apr 16
*PRICE: 1.0881 @ 15:47 BST Apr 17
*SUP 1: 1.0817 Low Apr 16 and intraday low
*SUP 2: 1.0830 Low Apr 8
*SUP 3: 1.0769 Low Apr 6 and key support
EURUSD remained under pressure before staging a tepid bounce into the close
Friday. Nonetheless, this extends the weaker current tone. The current selling
pressure follows an inability to convincingly clear the Tuesday 1.0987 high and
potentially brings to an end the recovery phase between Apr 6 - 15. The pair
made light work of the Wednesday low yesterday and is narrowing the gap with
1.0769, Apr 6 low. A break above 1.0991 is needed to offset the developing
bearish threat.

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