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EUROPE SUMMARY: Stg Straddle Buying Continues

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Key Mkt Levels Ahead FOMC

Softer Tone *RES 4: 1.1250 High...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Softer Tone
*RES 4: 1.1250 High Aug 6
*RES 3: 1.1239 High Dec 31 and bull trigger
*RES 2: 1.1206 High Jan 6
*RES 1: 1.1168 High Jan 8
*PRICE: 1.1103 @ 15:57 GMT Jan 9
*SUP 1: 1.1093 Low Jan 9
*SUP 2: 1.1066/65 Low Dec 20 / 100-dma
*SUP 3: 1.1040 Low Dec 6
*SUP 4: 1.1003 Low Dec 2
EURUSD maintains a softer tone following Wednesday's move below Friday's low of
1.1125 that has negated recent bullish signals provided by Friday's candle
pattern. The break lower risks a deeper pullback towards 1.1093 initially and
even 1.1066 should losses be sustained. The latter is the Dec 20 low and a fall
through here would strengthen a bearish case. For bulls to regain control,
resistance at 1.1168, needs to be cleared before tackling 1.1206, Jan 6 high.