Weaker Tone *RES 4: 1.1250 High...>

EURO-DOLLAR TECHS: Weaker Tone

*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: 1.1173 High Jan 16

*PRICE: 1.1126 @ 10:13 GMT Jan 17

*SUP 1: 1.1104/1085 Low Jan 14 / Low Jan 10

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

*SUP 3: 1.1064/40 Trendline support drawn off the Oct 1 low / Low Dec 6

*SUP 4: 1.1003 Low Dec 2

EURUSD is lower this morning. The failure to hold above 1.1168, Jan 8 high

yesterday reinforces the view recent gains have been corrective. The pair is

likely to maintain a softer tone following the Dec 31 - Jan 10 sell-off with

risk for a pullback towards 1.1066, the Dec 20 low. A break here would

strengthen a bearish case and expose trendline support at 1.1064, drawn off the

Oct 1 low. A break of yesterday's 1.1173 high would offset the bearish threat.