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EURO-DOLLAR TECHS: Narrowing Bollinger Bands Suggest Breakout
*RES 4: $1.1976 High Jan 5 2015
*RES 3: $1.1909 2017 High Aug 2
*RES 2: $1.1861 Hourly support Aug 3 now resistance
*RES 1: $1.1828 High Aug 21
*PRICE: $1.1795 @ 0430GMT
*SUP 1: $1.1773 Alternating hourly support/resistance
*SUP 2: $1.1740 Low Aug 23
*SUP 3: $1.1709 Hourly support Aug 18
*SUP 4: $1.1663 Low Aug 17
*COMMENTARY: The pair continues to find support on dips with pressure remaining
on key resistance layers. Bulls still look for a close above $1.1861 to test
2017 highs with a close above current 2017 highs needed to target $1.1976-1.2097
where the bull channel top is located. Narrowing Bollinger bands are suggestive
of a breakout. Bears look for a close below $1.1773 to ease pressure on
resistance layers and below $1.1740 to pressure $1.1583-1.1663.