$1.1583 Support Now Key *RES 4:...>

EURO-DOLLAR TECHS: $1.1583 Support Now Key

*RES 4: $1.1785 Hourly resistance Oct 26 

*RES 3: $1.1725 Low Oct 23 now resistance 

*RES 2: $1.1689 Hourly support Oct 26 now resistance

*RES 1: $1.1668 Hourly resistance Oct 26

*PRICE: $1.1631 @ 0205GMT

*SUP 1: $1.1611 Low July 26 

*SUP 2: $1.1583 High July 18 now support 

*SUP 3: $1.1538 Daily bear channel base 

*SUP 4: $1.1478 Low July 20

*COMMENTARY: The marginal break of the bear channel top remained capped by the

55-DMA ($1.1835) and ahead of the key $1.1880 resistance. The sharp sell-off

leaves the pair looking heavy with the close below the 100-DMA ($1.1677) seeing

bearish focus shift to $1.1478-1.1583 where the daily bear channel base is

found. Layers of resistance add weight to the bearish case with bulls now

needing a close above $1.1725 to ease bearish pressure.