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TECHNICAL LEVEL TO WATCH: A.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: TECHNICAL LEVEL TO WATCH: A sharp rally in EURUSD gathers
pace.
- There is a critical resistance in the pair at 1.1008/9.
- This marks the trendline resistance drawn off the Dec 31 high and the 50%
retracement of the sell-off between Dec 31 and Dec 20.
- The fact that these two technical readings have converged, reinforces the
importance of 1.1008/9 as a resistance.
- A break would further reinforce the current rally.
- Note, this level may also limit today's gains if indeed this move runs out of
steam. See chart:

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