Still Likely To Head Lower *RES...>

EURO-DOLLAR TECHS: Still Likely To Head Lower

*RES 4: 1.1168/79 200-day MA / Oct 21 high and key bull trigger

*RES 3: 1.1140 High Nov 5

*RES 2: 1.1097 High Nov 21 and bull trigger

*RES 1: 1.1067 Trendline resistance drawn off the Nov 4 high

*PRICE: 1.1007 05:29 GMT Nov 28

*SUP 1: 1.0989 Low Nov 14 and key support

*SUP 2: 1.0967 Recent double top projection

*SUP 3: 1.0950 76.4% retracement of Oct 1 - Oct 21 rally

*SUP 4: 1.0904 - Low Oct 2

EUR/USD traded softer yesterday. The pair maintains a bearish stance following

the recent pullback off resistance at 1.1097, Nov 21 high. Momentum studies are

bearish too reinforcing the current short-term downside threat. The focus is on

a move to 1.0989, Nov 14 low and 1.0967, the double top projection confirmed on

Nov 5. A recovery above last week's 1.1097 high is still required to negate the

bearish threat and instead open 1.1140 and 1.1179.