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Hesitating Ahead Of 2017 High.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Hesitating Ahead Of 2017 High
*RES 4: $1.2569 Monthly High Dec 16 2014
*RES 3: $1.2360 Low Dec 10 2014 now resistance
*RES 2: $1.2254 High Dec 25 2014
*RES 1: $1.2092 2017 High Sept 8
*PRICE: $1.2049 @ 0530GMT
*SUP 1: $1.2026 High Dec 29 now support 
*SUP 2: $1.1981 Hourly support Dec 29 
*SUP 3: $1.1961 High Nov 27 now support 
*SUP 4: $1.1910 High Dec 27 now support
*COMMENTARY: Gains continue to start the new year although hesitation ahead of
2017 highs is less than ideal given daily studies looking to correct from O/B
and the Bollinger band top ($1.2053). Bulls continue to look for a close above
the current 2017 high to initially target $1.2254. Layers of support are
accumulating but $1.1961 remains key. Bears need a close below $1.1961 to ease
bullish pressure and below the 100-DMA to confirm pressure back on $1.1690.

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