Bulls need to clear Jul 5 high:...>

EURO-DOLLAR TECHS: Bulls need to clear Jul 5 high:

*RES 4: 1.1376 High Jul 1

*RES 3: 1.1322/44 200-dma / Low Jun 25

*RES 2: 1.1302 50% retracement of the Jun 25-Jul 9 sell-off

*RES 1: 1.1288 High Jul 5 and bull trigger

*PRICE: 1.1246 @ 08:57 GMT July 16

*SUP 1: 1.1236 Intraday low

*SUP 2: 1.1193 Low Jul 9 and key support

*SUP 3: 1.1181 Jun 18 low

Despite the minor retracement through Europe, EURUSD retains a bullish tone.

Price action flirts with the 100-dma and is attempting to break above resistance

offered by the former channel support, today at 1.1281. Last Tuesday's candle

pattern is a bullish engulfing reversal. It remains important in that it

suggests shift in sentiment has occurred favouring bulls. 1.1288 is a bull

trigger where a break would confirm a resumption of the uptrend and open 1.1322,

the 200-dma. Support is at 1.1238.