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Bearish Pressure *RES 4: 1.1239...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bearish Pressure
*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: 1.1095 @ 05:29 GMT Jan 20
*SUP 1: 1.1085 Low Jan 10
*SUP 2: 1.1066 Low Dec 20 / Trendline support drawn off the Oct 1 low
*SUP 3: 1.1040 Low Dec 6
*SUP 4: 1.1003 Low Dec 2
It proved to be a bearish session for EURUSD Friday. The failure to hold above
1.1168, Jan 8 high on Thursday reinforced the view recent gains between JAn 10 -
16 have been corrective. Supports to watch lie at 1.1085, Jan 10 low and 1.1066,
Dec 20 low. 1.1066 support is reinforced by the fact that it also marks
trendline support drawn off the Oct 1 low. A break of the trendline would
strengthen a bearish case. 1.1143 is the first resistance ahead of 1.1173.

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