Trendline Breach Signals Deeper...>

EURO-DOLLAR TECHS: Trendline Breach Signals Deeper Correction

*RES 4: 1.1203/08 200-DMA / 61.8% of Jun 25 - Oct 1 decline

*RES 3: 1.1191 High Aug 14

*RES 2: 1.1179 High Oct 21 and bull trigger

*RES 1: 1.1123 High Oct 25

*PRICE: 1.1082 05:16 GMT Oct 28

*SUP 1: 1.1073 Low Oct 25

*SUP 2: 1.1064/62 38.2% of Oct 1 - Oct 21 climb / 50-day EMA

*SUP 3: 1.1023/29 Low Oct 16 / 50.0% of Oct 1 - Oct 21 climb

*SUP 4: 1.0991 Low Oct 15

EURUSD ebbed lower Friday and starts the week on a softer note trading just

below trendline support drawn off the Oct 1 low, at 1.1092 today. A move below

Friday's 1.1073 low would confirm a resumption of the recent pullback and allow

for a deeper correction towards 1.1064 and 1.1029, both retracement levels. The

50-day EMA is at 1.1062 and also represents an area of support that, if breached

would weigh on the pair. Initial resistance is 1.1123.