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EURO-DOLLAR TECHS: Extends Gains
*RES 4: 1.1237 High Mar 16
*RES 3: 1.1167 61.8% retracement of the Mar 9 - 23 sell-off
*RES 2: 1.1163/64 High Mar 30 and key resistance / 2.0% 10-dma envelope
*RES 1: 1.1095 Intraday high
*PRICE: 1.1095 @ 05:41 BST May 29
*SUP 1: 1.0992 May 28 low
*SUP 2: 1.0934 Low May 27
*SUP 3: 1.0871 May 25 low and key near-term support
*SUP 4: 1.0800 Low May 18
The rebound from the Wednesday low extended further Thursday, hitting new
recovery highs. The pair this week cleared key resistance at 1.1018, May 1 high
to confirm a range breakout and confirm a bullish theme. The focus is on the
next key resistance at 1.1163, Mar 30 high. A break would open 1.1167, a
Fibonacci retracement and clearance of this level would suggest scope for a
climb towards 1.1237, Mar 16 high. Support lies at 1.0992, yesterday's low.