$1.1605-$1.1595 Protects..........>

EURO-DOLLAR TECHS: $1.1605-$1.1595 Protects Against A Fresh Down Move

*RES 4: $1.1790 Initial low Oct 20, now resistance

*RES 3: $1.1753 Oct 25 low, now resistance

*RES 2: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 1: $1.1675/80 Hourly highs Oct 26

*PRICE: $1.1639 @0914GMT 

*SUP 1: $1.1595/05 Hourly support

*SUP 2: $1.1574 Oct 27 low

*SUP 3: $1.1516 5 week bear channel base projection

*SUP 4: $1.1506 1.618 swing of $1.1649-$1.1880

*COMMENTARY* Still finding near term support from above last Friday's $1.1574

low, as we continue to correct some near term oversold conditions. Having moved

above $1.1644, this now sees $1.1675-$1.1680 as the next resistance area of

note, before we reach the more important $1.1725-$1.1730 region. A move back

above the latter is needed to disrupt recent downside momentum. In the meantime,

look to $1.1605-$1.1595 as protection against a fresh down move.