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Watching Trendline Support *RES...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Watching Trendline Support
*RES 4: 1.1239 High Dec 31 and bull trigger
*RES 3: 1.1206 High Jan 6
*RES 2: 1.1173 High Jan 16 and key near-term resistance
*RES 1: 1.1143 High Jan 17
*PRICE: 1.1097 @ 05:16 GMT Jan 21
*SUP 1: 1.1069/66 Trendline support drawn off the Oct 1 low / Low Dec 20
*SUP 2: 1.1040 Low Dec 6
*SUP 3: 1.1003 Low Dec 2
*SUP 4: 1.0981 Low NOv 29 and key key support
EURUSD edged lower Monday. The pullback follows last Thursday's failure to hold
above 1.1168, Jan 8 high and reinforces the view gains between Jan 10 - 16 have
been corrective. Support to watch next is 1.1066, Dec 20 low. 1.1069 also marks
trendline support drawn off the Oct 1 low. A break of the trendline would
further strengthen a bearish case. Bulls though need the trendline to hold.
1.1143 is first resistance ahead of 1.1173.

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