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

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Retracing 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: 1.0935 @ 05:41 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 has started the week on a somewhat softer note.
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.

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