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YTD Lows Under Pressure After....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: YTD Lows Under Pressure 
After failing to hold the 1.1600 level, EURUSD has reversed to the downside,
taking out Monday's 1.1530 low. A break below the YTD low of 1.1509 resumes the
longer-term downtrend. Bulls need to reclaim 1.1628/38 (week's high and 50%
retracement level of recent decline) to challenge 1.1656, which is seen as the
next hurdle before the outlook can shift positive.

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