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EURO-DOLLAR TECHS: Key Resistance Breached
*RES 4: 1.1163 High Mar 30 and key resistance
*RES 3: 1.1136 2.0% 10-dma envelope
*RES 2: 1.1053 High Mar 31
*RES 1: 1.1039 High Apr 1
*PRICE: 1.1008 @ 05:55 BST May 28
*SUP 1: 1.0934 Low May 27
*SUP 2: 1.0871 May 25 low and key near-term support
*SUP 3: 1.0800 Low May 18
*SUP 4: 1.0775/67 Low May 14 / Low May 7 and key intraday support
EURUSD rebounded off yesterday's low resulting in a breach of key resistance at
1.1018, May 1 high. A positive outlook is maintained following this week's
recovery off Monday's low of 1.0871. A doji candle formation on this day
confirmed a reversal to bullish. Continued gains would open 1.1053, Mar 31 high
and 1.1163 potentially further out, the Mar 30 high. On the downside, key
support lies at 1.0871, initial support is at 1.0934, May 27 low.