Narrows Gap with 200-DMA *RES.....>

EURO-DOLLAR TECHS: Narrows Gap with 200-DMA

*RES 3: 1.1179 Oct 21 high and key bull trigger

*RES 2: 1.1155 200-day MA

*RES 1: 1.1145 High Nov 5

*PRICE: 1.1139 20:21 GMT Dec 11

*SUP 1: 1.1040/33 Low Dec 6 / 61.8% of the Nov 29 to Dec 4 rally

*SUP 2: 1.1003 Low Dec 2

*SUP 3: 1.0981 Low Nov 29 and key support

Pair traded well Wednesday as a moderately dovish Fed kept the greenback under

pressure. This prompted EURUSD to spill above the bull trigger and narrow the

gap with the 1.1155 200-dma, which becomes the primary target for bulls here.

This firms the outlook with a pullback below 1.1003 now needed to stem further

upside. The focus is on the potential for stronger climb near-term with the pair

at levels not seen since early November and the Oct 21 high at 1.1179. On the

downside, a move below 1.1003 would expose 1.0981, Nov 29 low. Initial support

is 1.1040.