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Another Day, Another Low *RES.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Another Day, Another Low
*RES 4: 1.1014 High Feb 6
*RES 3: 1.0958 High Feb 10
*RES 2: 1.0926 High Feb 12 and key near-term resistance
*RES 1: 1.0889 High Feb 13
*PRICE: 1.0796 @ 04:48 GMT Feb 19
*SUP 1: 1.0764 1.0% 10-dma envelope
*SUP 2: 1.0777 1.764 projection of Jan 16 - Jan 29 decline from Feb 3 high
*SUP 3: 1.0672 3.0% Lower Bollinger Band
*SUP 4: 1.0655 2.0% lower 10-dma envelope
EUR bears won out again Tuesday as the pair hit a fresh cycle low. Downside
persisted before support was found at the 1.0% 10-dma envelope. This marks key
support going forward. Tuesday's price action is the latest evidence that strong
impulsive sell-off is dominating, opening support at 1.0777. We continue to
stress that although the downtrend remains intact, the trend is steep and the
risk of a sharp reversal increases each day. Resistance is at 1.0889.

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