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Bull channel key focus for........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Bull channel key focus for bulls:
*RES 3: 1.1489 High Feb 1
*RES 2: 1.1434/48 Bull channel top and High Mar 20
*RES 1: 1.1412 High Jun 25
*PRICE: 1.1389 @ 09:05 GMT June 28
*SUP 1: 1.1344/42 Low Jun 25/200-dma
*SUP 2: 1.1320 200-hma
*SUP 3: 1.1318 High Jun 20/Down trendline from Jan 10
Strong French CPI data boosted EURUSD towards 1.14, a level that has so far
proved hard to overcome. Tuesday saw the pair stall at the top of its bull
channel at 1.1408 that day, printing a high of 1.1412 before retreating. At this
stage, with the bull trend intact, the failure at 1.1400 is seen as a temporary
setback with some consolidation possible near-term. For bulls, a move above
1.1412 would confirm a resumption of the uptrend, opening 1.1448 and 1.1489.
Note that today, the bull channel top intersects at 1.1434 and is also thus an
important resistance hurdle. First support is at 1.1344/42.

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