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EURO-DOLLAR TECHS: Underlying Theme Remains Bearish
*RES 4: 1.1018 High May 1 and key resistance
*RES 3: 1.0986 High May 4
*RES 2: 1.0911/ 26 50-day EMA / High May 5
*RES 1: 1.0876 High May 8
*PRICE: 1.0802 @ 05:37 BST May 12
*SUP 1: 1.0767 Low May 7 and key intraday support
*SUP 2: 1.0727 Low Apr 24 and bear trigger
*SUP 3: 1.0723 Low Mar 24
*SUP 4: 1.0600 round number support
EURUSD found support at 1.0767 last week. The near-term outlook though remains
bearish following last week's sell-off. To offset the bearish mood, the pair
needs to clear initial resistance at 1.0876, Friday's high and expose 1.0926,
May 5 high. A breach of this latter level would refocus attention on key
resistance at 1.1018, May 1 high. Key support to watch is 1.0767, a break would
resume bearish pressure and open 1.0727, the Apr 24 low.