Pressure Back On Key Support......>

EURO-DOLLAR TECHS: Pressure Back On Key Support

*RES 4: $1.2522 High Feb 1

*RES 3: $1.2498 Hourly resistance Feb 2

*RES 2: $1.2431 Hourly resistance Feb 5a

*RES 1: $1.2397 Hourly resistance Feb 5

*PRICE: $1.2350 @ 0530GMT

*SUP 1: $1.2322 High Jan 17 now support 

*SUP 2: $1.2283 21-DMA 

*SUP 3: $1.2213 Low Jan 22 

*SUP 4: $1.2156 Hourly resistance Jan 12 now support

*COMMENTARY: The recovery from last week's bounce remained capped ahead of 2018

highs and leaves the pair looking offered. Bears need a close below $1.2322 to

hint at a correction back to $1.2092-1.2156 with below the 21-DMA to add weight

to their case. Bulls now need a close above $1.2431 to gain breathing room and

above $1.2536 to target the LT weekly bear channel top ($1.2670).