Pullback Likely A Correction *RES 4:....>

EURO-DOLLAR: Pullback Likely A Correction

*RES 4: 1.1321 High Jul 2

*RES 3: 1.1286 High Jul 11 and 76.4% of the Jun 25 - Oct 1 Decline

*RES 2: 1.1250 High Aug 6

*RES 1: 1.1239 High Dec 31

*PRICE: 1.1168 @ 05:41 GMT Jan 3

*SUP 1: 1.1164 Low Jan 2 and intraday low

*SUP 2: 1.1132 61.8% retracement of the Dec 20 - Dec 31 rally

*SUP 3: 1.1096 Low Dec 27

*SUP 4: 1.1066/62 Low Dec 20 / 100-dma

EURUSD traded lower yesterday. The move though is considered corrective with the

outlook still bullish. Earlier this week, the pair traded through key resistance

of 1.1199, the Dec 13 high. A key short-term support has been defined at 1.1066,

Dec 12 low and the uptrend that started on Oct 2 has once again resumed. With

further gains likely, attention is on 1.1250, the Aug 6 high and 1.1286, Jul 11

high. A break below 1.1066 is needed to reinstate a bearish threat.