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EURO-DOLLAR TECHS: Support Defined At 1.0767
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0915/ 26 50-day EMA / High May 5
*RES 1: 1.0876 High May 8
*PRICE: 1.0849 @ 05:45 BST May 10
*SUP 1: 1.0815 Low May 8
*SUP 2: 1.0767 Low May 7 and key intraday support
*SUP 3: 1.0727 Low Apr 24 and bear trigger
*SUP 4: 1.0723 Low Mar 24
EURUSD managed on May 7 to find support at 1.0767. Despite the recovery, the
near-term outlook remains bearish following last week's sharp sell-off. However,
to offset the bearish mood, the pair needs to clear initial resistance at
1.0815, Friday's high and expose 1.0926, May 5 high. A breach of this latter
level would refocus attention on key resistance at 1.1018, May 1 high. Weakness
below 1.0767 resumes bearish pressure and opens 1.0727.