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(Z17) 98.585 Support Becomes....>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (Z17) 98.585 Support Becomes Pivotal To Near Term Direction
*RES 4: 98.695 38.2% Fibo of 99.270-98.335
*RES 3: 98.680 May 30 2016 low, now resistance
*RES 2: 98.655 May 18 high
*RES 1: 98.635 Sep 8 high
*PRICE: 98.590 @1056GMT
*SUP 1: 98.585 Minor congestion area Aug 30-Sep 5
*SUP 2: 98.560 Aug 25 low, Aug 3-4 highs
*SUP 3: 98.545 Congestion area Jul 26-Aug 10
*SUP 4: 98.520 Jul 25-Jul 26 lows
*COMMENTARY* After weeks of consolidation we saw a break above 98.580-98.590
resistance back on Aug 29. This has allowed some further progression and with
the subsequent move through 98.630, this brought the May 18 high at 98.655 back
into view. As a result, support also rises, focus now on  98.585, loss would
suggest scope for a deeper 98.560-98.545 fall as we give back some of the recent
gains from 98.520.

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