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Approaching Trendline Support.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Approaching Trendline Support At 1.1069
*RES 4: 1.1239 High Dec 31 and bull trigger
*RES 3: 1.1206 High Jan 6
*RES 2: 1.1173 High Jan 16 and key near-term resistance
*RES 1: 1.1143 High Jan 17
*PRICE: 1.1083 @ 05:14 GMT Jan 22
*SUP 1: 1.1069/66 Trendline support drawn off the Oct 1 low / Low Dec 20
*SUP 2: 1.1040 Low Dec 6
*SUP 3: 1.1003 Low Dec 2
*SUP 4: 1.0981 Low Nov 29 and key key support
EURUSD failed to hold its gains yesterday and ended up closing at the day low
instead. The near-term outlook is bearsh following last Thursday's failure to
hold above 1.1168, Jan 8 high. Support to watch next is 1.1066, Dec 20 low.
1.1071 is trendline support drawn off the Oct 1 low. A break of the trendline
would further strengthen a bearish case and open 1.1040, Dec 6 low. Bulls need
the trendline to hold. 1.1143 is first resistance ahead of 1.1173.

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