Channel top too tricky for now:...>

EURO-DOLLAR TECHS: Channel top too tricky for now:

*RES 4: 1.1164 High Aug 26

*RES 3: 1.1141 1.0% 10-dma envelope

*RES 2: 1.1109 High Sep 12 and key reversal point

*RES 1: 1.1061 Channel resistance drawn off May 26 high

*PRICE: 1.1003 @ 15:45 GMT Sep 24

*SUP 1: 1.0966 Low Sep 23

*SUP 2: 1.0931 3.0% Lower Bollinger Band

*SUP 3: 1.0927/26 Low Sep 12 and Sep 3

*SUP 4: 1.0862 76.4% retracement of Jan 2017 - Feb 2018 rally

EURUSD traded lower Monday following a woeful set of Eurozone PMIs. The key

channel top drawn off the June 25 high remains intact with the underlying

bearish threat still in place. The break of support at 1.0990, low Sep 17

exposes the recent key lows at 1.0926/27 with the 3.0% lower Bollinger Band at

1.0928. A break of these support levels would confirm a resumption of the

downtrend. To turn bullish, a move above 1.1109,Sep 13 high is still required.