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EURO-DOLLAR TECHS: Recovery Lacking Impulse
*RES 4: 1.1200/08 200-DMA / 61.8% of Jun 25 - Oct 1 decline
*RES 3: 1.1191 High Aug 14
*RES 2: 1.1179 High Oct 21 and bull trigger
*RES 1: 1.1123 High Oct 25 and intraday high
*PRICE: 1.1116 09:46 GMT Oct 30
*SUP 1: 1.1073 Low Oct 25
*SUP 2: 1.1065/64 50-day EMA / 38.2% of Oct 1 - Oct 21 climb
*SUP 3: 1.1023/29 Low Oct 16 / 50.0% of Oct 1 - Oct 21 climb
*SUP 4: 1.0991 Low Oct 15
EURUSD recovered yesterday and is slightly firmer this morning however the move
has been insufficient thus far to materially improve the outlook. Attention
remains on support at 1.1073, Friday's low with the pair still appearing
vulnerable. Trendline support drawn off Oct 1 low has been eroded however a move
below 1.1073 is needed to confirm the break and also confirm a resumption of the
recent pullback opening 1.1064 and 1.1029. Initial resistance is at 1.1123.