Eyeing Key Resistance *RES 4:.....>

EURO-DOLLAR TECHS: Eyeing Key Resistance

*RES 4: 1.1163 High Mar 30

*RES 3: 1.1039 High Apr 1

*RES 2: 1.1018 High May 1 and key resistance

*RES 1: 1.0999 High May 20

*PRICE: 1.0962 @ 05:27 BST May 21

*SUP 1: 1.0902 Low May 19

*SUP 2: 1.0800 Low May 18

*SUP 3: 1.0775/67 Low May 14 / Low May 7 and key intraday support

*SUP 4: 1.0727 Low Apr 24 and bear trigger

EURUSD traded higher yesterday and maintains a bullish tone following this

week's recovery. The clearance of 1.0896, May 13 high shifts attention towards

the bull trigger at 1.1018, May 1 high where a break is required to confirm a

bullish reversal. On the downside, a failure to hold onto gains would again

expose support at 1.0767, the May 7 low. A break would instead resume bearish

pressure and open 1.0727 once again, Apr 24 low. Initial support is at 1.0902.