Bulls Need Close Above 21-DMA.....>

EURO-DOLLAR TECHS: Bulls Need Close Above 21-DMA

*RES 4: $1.1961 High Nov 27

*RES 3: $1.1940 High Dec 1

*RES 2: $1.1884 Alternating hourly support/resistance

*RES 1: $1.1848 High Dec 6

*PRICE: $1.1820 @ 2030GMT

*SUP 1: $1.1779 Hourly breakout level Dec 13 

*SUP 2: $1.1729 Low Dec 13 

*SUP 3: $1.1713 Low Nov 21 

*SUP 4: $1.1690 High Nov 3 now support

*COMMENTARY: The failure by bears to manage a break of the key $1.1690 support

sees the pair correcting higher with bulls now looking for a close above the

21-DMA ($1.1814) to add support to the case for a move back to $1.1940-61 and

above $1.1884 to confirm. Daily studies are well placed for further topside.

Bears now need a close below $1.1779 to ease immediate bullish pressure.