Retraces Recent Gains *RES 4:.....>

EURO-DOLLAR TECHS: Retraces Recent Gains

*RES 4: 1.1077 2.0% 10-dma envelope

*RES 3: 1.1039 High Apr 1

*RES 2: 1.1035 200-dma

*RES 1: 1.1018 High May 1 and intraday bull trigger

*PRICE: 1.0908 @ 16:10 BST May 4

*SUP 1: 1.0888 High Apr 28

*SUP 2: 1.0799 Low Apr 27 and key near-term support

*SUP 3: 1.0727 Apr 24 low and bear trigger

*SUP 4: 1.0723 Low Mar 24

EURUSD extended gains Friday but started this week on a much softer note,

retreating to trade either side of the 1.09 handle. For now, a bullish theme

remains intact following last week's break of resistance 1.0991, Apr 15 high, as

well as the 100-dma, confirming a short-term reversal. This has opened the

200-dma at 1.1035 while further out, an extension higher would also signal scope

for 1.1163, Mar 30 high. Initial support lies at 1.0888 ahead of 1.0799.