The hourly downtrend drawn off the April 19 high at 1.2077 comes in this morning at the 1.1885 level, and the market looks to be making a run for it early on. Small stops are seen above the trendline at just above 1.1900, dealers report. A number of rallies have stalled in the 1.1920/45 area in the last several days, and the EUR probably won"t garner many true-believers until those resistance levels are broken.