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Extends Today's Gains *RES 4:.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Extends Today's Gains
*RES 4: 1.1228 High Aug 13
*RES 3: 1.1226 1.0% 10-dma envelope
*RES 2: 1.1199/1208 High Dec 13 / 61.8% of the Jun 25 - Oct 1 decline
*RES 1: 1.1179 High Dec 27
*PRICE: 1.1174 @ 16:27 GMT Dec 27
*SUP 1: 1.1096 Intraday low
*SUP 2: 1.1066/61 Low Dec 20 / 100-dma
*SUP 3: 1.1040 Low Dec 6 and key support
*SUP 4: 1.0999/81 Lower 1.0% 10-dma envelope / Low Nov 29 and key support
EURUSD extended gains throughout the Friday session. Early indications are that
the recent pullback has run its course, defining a key short-term support at
1.1066, Dec 12 low. The pair has traded above 1.1125, this reinforces a positive
theme and signals potential for a retest of key resistance at 1.1199, high Dec
13. With support defined at 1.1066, a break is needed to reinstate a bearish
threat and open 1.1040.

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