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EURO-DOLLAR TECHS: Still Bearish but Consolidating Above 1.1145
Monday has been quiet for EURUSD with the pair consolidating above the 1.1145
level. However, failure to clear 1.12 keeps the broader bearish trend intact.
Above here would reignite momentum opening the 50% retracement of the recent
fall & 21-dma at 1.1218/32, ahead of the Apr 22 high at 1.1262. Bears downside
focus remains on the Apr 26 & May 30 2017 lows at 1.1112/10. Protection is
expected ahead of the 1.11 handle, with a break here likely accelerating the
move toward the May 18 2017 low & down trendline at 1.1076/70.