Corrective Bounce *RES 4:.........>

EURO-DOLLAR TECHS: Corrective Bounce

*RES 4: 1.1113/18 Trendline drawn off the Dec 31 high / High Jan 21

*RES 3: 1.1109 High Jan 23

*RES 2: 1.1088 Former trendline support drawn off the Oct 1 low

*RES 1: 1.1062 High Jan 24

*PRICE: 1.1024 @ 05:42 GMT Jan 31

*SUP 1: 1.0992 Low Jan 29

*SUP 2: 1.0981 Low Nov 29 and key support

*SUP 3: 1.0952/42 Low Oct 9 / 1.0% Lower 10-dma Envelope

*SUP 4: 1.0941 Low Oct 8

EURUSD recovered yesterday however price remains fragile. A bearish theme

remains in place following last week's breach of key trendline support, drawn

off the Oct 1 low. This is seen still weighing on the pair and reinforces the

bearish tone that has dominated this month's activity. Attention is on the late

Nov low of 1.0981. Momentum studies maintain a bearish posture and continue to

point south. Firm resistance is at 1.1088.