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EURO-DOLLAR TECHS: Positive Near Term Outlook Maintained
*RES 4: 1.1228 High Aug 13
*RES 3: 1.1176/79 200-day MA / Oct 21 high and key bull trigger
*RES 2: 1.1140 High Nov 5
*RES 1: 1.1091/93 100-day MA / High Nov 6
*PRICE: 1.1084 10:06 GMT Nov 21
*SUP 1: 1.1053 Low Nov 20
*SUP 2: 1.1015 Low Nov 15
*SUP 3: 1.0989 Low Nov 14 and key support
*SUP 4: 1.0967 Recent double top projection
After facing selling pressure initially yesterday, EURUSD rebounded to end the
day broadly flat. The outlook remains positive following recent gains however
clearance of the next resistance at 1.1093 is required to signal scope for an
extension that would open 1.1140 and 1.1179, Nov 5 and Oct 21 high respectively.
Key support is 1.0989. An inability to hold above this level would confirm a
resumption of the recent bearish phase. Initial support is 1.1053.