Focus turns to ECB: *RES 3:.......>

EURO-DOLLAR TECHS: Focus turns to ECB:

*RES 3: 1.1286/88 High Jul 11 and Jul 5

*RES 2: 1.1246/52 100-dma / cloud top

*RES 1: 1.1193 Low Jul 9

*PRICE: 1.1140 @ 16:03 GMT July 24

*SUP 1: 1.1116 Low May 30

*SUP 2: 1.1107 Low May 23 and bear trigger

*SUP 3: 1.1000 Psychological round number

EURUSD resumed its downward trend early Wednesday as PMIs generally missed

expectations, keeping the sell-signals from the break of key supports yesterday

at 1.1193 and 1.1181 in tact. The outlook remains bearish with the 2% lower

Bollinger Band also under pressure. The underlying bearish tone stems from the

channel breakout on Jul 5 and the subsequent failure to clear resistance in

mid-July. The sell-off on Jul 19 saw bears gain the upper hand. The focus is now

on support at 1.1107, the low of May 23 and the key bear trigger. 1.1193 is

initial resistance.