Hesitating Ahead Of 55-DMA *RES...>

EURO-DOLLAR TECHS: Hesitating Ahead Of 55-DMA

*RES 4: $1.1889 Low May 11 now resistance

*RES 3: $1.1854 High May 16

*RES 2: $1.1820 High June 11

*RES 1: $1.1774 55-DMA

*PRICE: $1.1762 @ 0430GMT

*SUP 1: $1.1723 Alternating daily support/resistance 

*SUP 2: $1.1670 Hourly support July 5 

*SUP 3: $1.1627 Low July 4 

*SUP 4: $1.1589 Low July 2

*COMMENTARY: Pressure on the $1.1723 resistance took its toll last week with a

break and close above Friday only to pause ahead of the 55-DMA. The

$1.1889-1.1924 region where the 55-WMA ($1.1924) is key this week. Bulls now

need a close above the 55-WMA to shift initial focus to $1.1984-1.2053 where 100

($1.2019) & 200 ($1.1984) DMAs are noted. Bears now need a close below $1.1670

to ease renewed bullish pressure and below $1.1589 to pressure 2018 lows.