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Finds Resistance *RES 4: 1.1250...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Finds Resistance
*RES 4: 1.1250 High Aug 6
*RES 3: 1.1239 High Dec 31 and bull trigger
*RES 2: 1.1206 High Jan 6
*RES 1: 1.1173 High Jan 16
*PRICE: 1.1135 @ 05:19 GMT Jan 17
*SUP 1: 1.1104/1085 Low Jan 14 / Low Jan 10
*SUP 2: 1.1066 Low Dec 20 / 100-dma
*SUP 3: 1.1064/40 Trendline support drawn off the Oct 1 low / Low Dec 6
*SUP 4: 1.1003 Low Dec 2
EURUSD stalled at the day high yesterday. The failure to hold above 1.1168, Jan
8 high reinforces the view that recent gains have been corrective. The pair is
likely to maintain a softer tone following the Dec 31 - Jan 10 sell-off with
risk for a pullback towards 1.1066, the Dec 20 low. A break here would
strengthen a bearish case and expose trendline support at 1.1064, drawn off the
Oct 1 low. A break of yesterday's 1.1173 high would offset the bearish threat.

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