Looking A Little Heavy *RES 4:....>

EURO-DOLLAR TECHS: Looking A Little Heavy

*RES 4: $1.2254 High Dec 25 2014

*RES 3: $1.2092 2017 High Sept 8

*RES 2: $1.2052 High Jan 8

*RES 1: $1.2009 Hourly resistance Jan 8

*PRICE: $1.1967 @ 0530GMT

*SUP 1: $1.1956 Low Jan 8 

*SUP 2: $1.1910 High Dec 27 now support 

*SUP 3: $1.1903 21-DMA 

*SUP 4: $1.1842 Daily Bull channel base (off Nov low)

*COMMENTARY: Continued hesitation ahead of 2017 highs has taken its toll with

the sell-off Monday leaving the pair looking heavy and seeing focus on support

layers $1.1802-1.1903 where key DMAs and the bull channel base are situated.

Layers of resistance accumulating and daily studies correcting from O/B adds

weight to the bearish case. Bulls now need a close above $1.2092 to reconfirm a

bullish bias initially targeting $1.2254.