$1.1616-$1.1624 Break Allows......>

EURO-DOLLAR TECHS: $1.1616-$1.1624 Break Allows Recovery Chance To Breathe

*RES 4: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 3: $1.1690 Nov 3 high

*RES 2: $1.1660 Hourly congestion Nov 2-Nov 3

*RES 1: $1.1645 Intraday high

*PRICE: $1.1639 @1625GMT 

*SUP 1: $1.1579/89 Nov 8 low, hourly support

*SUP 2: $1.1554 Nov 7 low

*SUP 3: $1.1510 1% volatility band

*SUP 4: $1.1502/06 swing of $1.1574-$1.1690 & $1.1649-$1.1880

*COMMENTARY* Found support from around the $1.1555 level on Tuesday, before

being rescued by some near term oversold conditions. Today's move back above the

previously troublesome $1.1616-$1.1624 is an initial positive and eyes are now

on the the slightly higher $1.1638-$1.1660 area. Above the latter would give the

recovery a further boost. Meanwhile, $1.1589-$1.1579 now protects that

$1.1554-55 area again.