Fails to Make Progress *RES 4:....>

EURO-DOLLAR TECHS: Fails to Make Progress

*RES 4: 1.1018 High May 1 and key resistance

*RES 3: 1.0986 High May 4

*RES 2: 1.0908/26 50-day EMA / High May 5

*RES 1: 1.0896 High May 13

*PRICE: 1.0841 @ 16:34 BST May 13

*SUP 1: 1.0785/67 Low May 12 / Low May 7 and key intraday support

*SUP 2: 1.0727 Low Apr 24 and bear trigger

*SUP 3: 1.0723 Low Mar 24

*SUP 4: 1.0600 round number support

Having found support at 1.0767 last week, EURUSD hit new weekly highs Wednesday

up at 1.0896. Nonetheless, the pair failed to hold on to these gains, reversing

into the close lower. Key support to watch is still 1.0767, a break would resume

bearish pressure and open 1.0727, the Apr 24 low. Stronger gains are needed to

undermine the recent bearish outlook and expose 1.0926, the May 5 high. A breach

here would refocus attention on key resistance at 1.1018, May 1 high.