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Trendline Support Holds

EURO-DOLLAR TECHS
  • RES 4: 1.2032 High May 2, 2018
  • RES 3: 1.2011 High Sep 1 and the bull trigger
  • RES 2: 1.1929 High Sep 2
  • RES 1: 1.1865 High Sep 3
  • PRICE: 1.1811 @ 17:10 BST Sep 9
  • SUP 1: 1.1753 Low Sep 9 and key support
  • SUP 2: 1.1711 Low Aug 12
  • SUP 3: 1.1676 50-day EMA
  • SUP 4: 1.1639 Low Jul 27

EURUSD remains vulnerable following last week's failure above 1.2000. Yesterday's price action though saw the pair recover off a key support at the 1.1755/54 level. This marked trendline support drawn off the May 14 low and the Aug 21 low. A clear breach of the trendline would signal a reversal and reinforce the recent move lower. The uptrend remains intact while the trendline holds. Initial resistance is at 1.1865, Sep 3 high.

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