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EURO-DOLLAR TECHS: Heavy Into The Close:
*RES 3: 1.1286 High Jul 11 and 76.4% of the Jun 25 - Oct 1 Decline
*RES 2: 1.1250 High Aug 6
*RES 1: 1.1239 High Dec 31 and bull trigger
*PRICE: 1.1142 @ 17:10 GMT Jan 7
*SUP 1: 1.1134 Low Jan 6
*SUP 2: 1.1125 Low Jan 3 and key near-term support
*SUP 3: 1.1096 Low Dec 27
Despite giving off some constructive signals overnight, the pair sagged into the
close, falling through the Monday low in the process. Nonetheless, Friday's
1.1125 low remains in tact. In candle terms, Friday's pattern is a hammer and
signals a reversal. This reinforces the view the recent pullback was corrective,
with the underlying outlook still bullish. Last week's breach of 1.1199, the Dec
13 high confirmed a resumption of the recovery that began in October with
attention on 1.1250 and 1.1286. Support lies at 1.1125.