Still Trading Below 1.1168........>

EURO-DOLLAR TECHS: Still Trading Below 1.1168 Resistance

*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: 1.1157 @ 10:16 GMT Jan 16

*SUP 1: 1.1085 Low Jan 10

*SUP 2: 1.1066 Low Dec 20 / 100-dma

*SUP 3: 1.1062/40 Trendline support drawn off the Oct 1 low / Low Dec 6

*SUP 4: 1.1003 Low Dec 2

EURUSD is holding onto gains but still remains below resistance at 1.1168, Jan 8

high. The recent recovery is still being viewed as a correction with the pair

expected to maintain a softer tone following the Dec 31 - Jan 10 sell-off. Risk

is seen for a deeper pullback towards 1.1066, the Dec 20 low where a break would

strengthen a bearish case and expose trendline support at 1.1062 drawn off the

Oct 1 low. A break of resistance at 1.1168, would offset the bearish threat.