$1.1605-$1.1600 Provides Near.....>

EURO-DOLLAR TECHS: $1.1605-$1.1600 Provides Near Term Support

*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: $1.1688 Nov 2 high

*PRICE: $1.1656 @1315GMT 

*SUP 1: $1.1600/05 Hourly support

*SUP 2: $1.1565/74 1% volatility band, Oct 27 low

*SUP 3: $1.1506 1.618 swing of $1.1649-$1.1880

*SUP 4: $1.1448 2% volatility band

*COMMENTARY* Unable to move any higher than $1.1688 after a couple of days of

trying. While below the slightly higher $1.1725-30 area, this still suggests

that the recovery from last week's $1.1574 low is just a 4th wave correction.

Still looking at near term support from $1.1600-05. A loss would put

$1.1574-$1.1565 back under pressure. The latter has to hold, or the downside

will seek out a couple of swing targets around $1.1506-$1.1504 next.