Below 55-DMA To Hint at...........>

EURO-DOLLAR TECHS: Below 55-DMA To Hint at Correction

*RES 4: $1.2033 High Sept 20

*RES 3: $1.1961 High Nov 27

*RES 2: $1.1940 High Dec 1

*RES 1: $1.1884 Alternating hourly support/resistance

*PRICE: $1.1870 @ 0205GMT

*SUP 1: $1.1828 Low Dec 5 

*SUP 2: $1.1813 Hourly support Nov 23 

*SUP 3: $1.1769 55-DMA 

*SUP 4: $1.1713 Low Nov 21

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

in a dip below the channel base ($1.1846) Monday. Bears continue to look for 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. The $1.1961 resistance is

key this week with bulls needing a close above to reconfirm a bullish bias and

focus on $1.2033-92.