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EURO-DOLLAR TECHS: Short-term Rally
Failure to challenge yesterday's low at 1.1530 has seen EURUSD rally to 1.1593,
putting immediate focus on 1.1611. Bulls need the recovery to extend through
1.1656 to stabilise the near-term outlook. Bears look for a close below the
1.1525/30 area to add weight and test the YTD low of 1.1509. Below here, the the
longer-term downtrend would likely gain momentum.