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EURO-DOLLAR TECHS: Weak Weekly Close
EURUSD failed sustain early gains last week with the poor Friday session seeing
the pair drop back to support at its 21-dma at 1.1616. A close below this level
would shift the focus to the downside and suggest a resumption of weakness
towards the ytd low at 1.1301. Bulls now need a close back above the 100-dma at
1.1673 to return the focus to the upside, which would bring down trendline
resistance from the July high into view. A move above the Aug 28 high and 1.1750
level would provide fresh bullish impetus and trigger a large inverse