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Remains Offered *RES 4: 1.1239....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Remains Offered
*RES 4: 1.1239 High Dec 31 and bull trigger
*RES 3: 1.1206 High Jan 6
*RES 2: 1.1173 High Jan 16 and key near-term resistance
*RES 1: 1.1143 High Jan 17
*PRICE: 1.1083 @ 14:24 GMT Jan 20
*SUP 1: 1.1069/66 Trendline support drawn off the Oct 1 low / Low Dec 20
*SUP 2: 1.1040 Low Dec 6
*SUP 3: 1.1003 Low Dec 2
*SUP 4: 1.0981 Low NOv 29 and key key support
EURUSD edged lower Monday trading below initial support at 1.1085, Jan 10 low.
The pullback follows last Thursday's failure to hold above 1.1168, Jan 8 high
and reinforces the view recent gains between Jan 10 - 16 have been corrective.
Support to watch next is 1.1066, Dec 20 low. 1.1069 also marks trendline support
drawn off the Oct 1 low. A break of the trendline would further strengthen a
bearish case. 1.1143 is first resistance ahead of 1.1173.

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