Stalls again at channel top:......>

EURO-DOLLAR TECHS: Stalls again at channel top:

*RES 3: 1.1145 1.0% 10-dma envelope

*RES 2: 1.1109 High Sep 12 and key reversal point

*RES 1: 1.1061 Channel resistance drawn off May 26 high

*PRICE: 1.0991 @ 08:17 GMT Sep 24

*SUP 1: 1.0966 Low Sep 23

*SUP 2: 1.0928 3.0% Lower Bollinger Band

*SUP 3: 1.0927/26 Low Sep 12 and Sep 3

EURUSD traded lower yesterday following a woeful set of Eurozone PMIs. The key

channel top drawn off the June 25 high remains intact in tact with the

underlying bearish threat still in place. The break of support at 1.0990, low

Sep 17 exposes the recent key lows at 1.0926/27 with the 3.0% lower Bollinger

Band at 1.0928. A break of these support levels would confirm a resumption of

the downtrend. To turn bullish, a move above 1.1109,Sep 13 high is still

required.