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EURO-DOLLAR TECHS: US GDP Helps Pair Off Cycle Lows
EURUSD headed north of 1.1150 on the poor components of US GDP, but the pair
struggled to gain any traction above there, keeping the major bearish downtrend
intact. The initial downside target is the May 30 2017 low at 1.1110, just ahead
of the 1.11 handle. A break here would likely accelerate the move toward the May
18 2017 low & down trendline at 1.1076/73. Bulls need to recover 1.12, before
challenging the 21-dma & Apr 22 high at 1.1234/62.