Bears Need Close Below 55-DMA.....>

EURO-DOLLAR TECHS: Bears Need Close Below 55-DMA

*RES 4: $1.1884 Alternating hourly support/resistance

*RES 3: $1.1848 High Dec 6

*RES 2: $1.1814 High Dec 7

*RES 1: $1.1777 Hourly resistance Dec 8

*PRICE: $1.1763 @ 0200GMT

*SUP 1: $1.1760 55-DMA 

*SUP 2: $1.1713 Low Nov 21 

*SUP 3: $1.1690 High Nov 3 now support 

*SUP 4: $1.1621 Low Nov 10

*COMMENTARY: The daily bull channel top ($1.2066) capped last week and now sees

the pair gaining traction below the channel base ($1.1875) and pressuring the

55-DMA. Bears still need a close below the 55-DMA to confirm an easing of

bullish pressure and below $1.1690 to confirm initial focus on $1.1552 Nov lows.

Bulls continue to look for a close above $1.1848 to gain breathing room and

above $1.1884 to shift focus back to $1.1940-61.