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VIEW: ING: The Message Is Clear - Stability

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Resilience Gives Way

Watching Resistance At 1.1093.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Watching Resistance At 1.1093
*RES 3: 1.1177/79 200-day MA / Oct 21 high and key bull trigger
*RES 2: 1.1140 High Nov 5
*RES 1: 1.1093 High Nov 6 / 100-day MA
*PRICE: 1.1063 16:43 GMT Nov 20
*SUP 1: 1.1048 Low Nov 18
*SUP 2: 1.1015 Low Nov 15
*SUP 3: 1.0989 Low Nov 14 and key support
After facing selling pressure for much of the morning, EURUSD returning back to
broadly flat ahead of the close. The outlook remains positive following Monday's
price action that resulted in a breach of 1.1073, the former double top
midpoint. The next resistance is 1.1093, clearance here would allow for an
extension above 1.1100 towards 1.1140 and 1.1179, Oct 21 high. Key support is
1.0989, last weeks low. An inability to hold above this level would see the
recent bearish theme resume. Initial support is 1.1048.