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Flies into the Close *RES 3:......>

EURO-DOLLAR TECHS: Flies into the Close
*RES 3: 1.1109 High Jan 23
*RES 2: 1.1099 50-dma
*RES 1: 1.1090 High Jan 31
*PRICE: 1.1088 @ 16:30 GMT Jan 31
*SUP 1: 1.0992 Low Jan 29
*SUP 2: 1.0981 Low Nov 29 and key support
*SUP 3: 1.0952/42 Low Oct 9 / 1.0% Lower 10-dma Envelope
After a subdued start, EURUSD recovered well into the close on suspected
month-end buying and carry trade unwinds. This continues to work against the
bearish theme that's been in place following the breach of key trendline
support, drawn off the Oct 1 low. Nonetheless, bulls are yet to swing the
balance and this is still seen weighing on sentiment. Attention is on the late
Nov low of 1.0981. Momentum studies also maintain a bearish posture and continue
to point south. Firm resistance is at the 1.1099 50-dma.

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