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Struggling to Build Above 1.16....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Struggling to Build Above 1.16
The downtrend remains intact following yesterday's false break above the 50-dma
and close back below 1.1600. The 1.15 level is now the next downside target
ahead of a potential return to the ytd low at 1.1301. A close above 1.1600 and
bulls can look to shift the short-term focus higher, targeting the 100-dma and
trendline resistance at 1.1686/98. A break opens the Aug 28 high at 1.1733.

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