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02.08.2011 10:49 AM
EUR/USD Intraday Technical analysis

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The spot rate has bounced on the lower limit of its medium term bearish channel in 1.4190 and approach to the intermediate resistance of this one to 1.4320. A break of these levels would allow it to reach the upper limit of the channel to 1.4450.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4320 with a 1st objective of 1.4420, then 1.4450. A break in 1.4290 would invalidate this scenario.

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