Extends Recovery Above 1.0800.....>

EURO-DOLLAR TECHS: Extends Recovery Above 1.0800

*RES 4: 1.0991 High Apr 15 and the bull trigger

*RES 3: 1.0935 50-day EMA

*RES 2: 1.0878/97 20-day EMA / High Apr 20

*RES 1: 1.0860 High Apr 27

*PRICE: 1.0819 @ 05:33 BST Apr 28

*SUP 1: 1.0799 Low Apr 27

*SUP 2: 1.0727 Apr 24 low and bear trigger

*SUP 3: 1.0723 Low Mar 24

*SUP 4: 1.0690 0.764 projection of Mar 30 - Apr 6 sell-off from Apr 15 high

EURUSD found support last week at 1.0727, Apr 24 low and is holding above the

1.0800 handle. The recent move higher has halted for now at least, the recent

bearish cycle with scope for further intraday gains. Attention is on the

important 1.0878/97 resistance zone, the 20-day EMA and Apr 20 high

respectively. A break would be bullish. On the downside, a move below 1.0800

would instead signal the return of bearish activity and expose 1.0727.