$1.1616-$1.1624 Still The Near....>

EURO-DOLLAR TECHS: $1.1616-$1.1624 Still The Near Term Bar To Recovery

*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: $1.1616/24 Nov 6, Nov 3 highs

*PRICE: $1.1583 @1610GMT 

*SUP 1: $1.1554 Nov 7 low

*SUP 2: $1.1509 1% volatility band

*SUP 3: $1.1502/06 swing of $1.1574-$1.1690 & $1.1649-$1.1880

*SUP 4: $1.1479 9 week bull channel base projection

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

being rescued by some near term oversold conditions. Still looking towards

$1.1616-$1.1624 for initial resistance to this recovery, above and the slightly

higher $1.1660 area then becomes the focus and key as to whether this rally has

any legs or not. Meanwhile, that $1.1554-55 area protects the downside from an

assault on the $1.1509-$1.1502 area next.