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Off Recent Lows *RES 4:...........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Off Recent Lows
*RES 4: 1.1113/18 Trendline drawn off the Dec 31 high / High Jan 21
*RES 3: 1.1109 High Jan 23
*RES 2: 1.1088 Former trendline support drawn off the Oct 1 low
*RES 1: 1.1062 High Jan 24
*PRICE: 1.1025 @ 10:22 GMT Jan 31
*SUP 1: 1.0992 Low Jan 29
*SUP 2: 1.0981 Low Nov 29 and key support
*SUP 3: 1.0952/42 Low Oct 9 / 1.0% Lower 10-dma Envelope
*SUP 4: 1.0941 Low Oct 8
EURUSD recovered yesterday however the pair remains fragile. A bearish theme is
still in place following last week's breach of key trendline support, drawn off
the Oct 1 low. This is seen still weighing on sentiment and reinforces the
bearish tone that has dominated this month's activity. Attention is on the late
Nov low of 1.0981. Momentum studies also maintain a bearish posture and continue
to point south. Firm resistance is at 1.1088.

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