$1.1644-$1.1680 The Bar To Any....>

EURO-DOLLAR TECHS: $1.1644-$1.1680 The Bar To Any Further Recovery Hopes

*RES 4: $1.1753 Oct 25 low, now resistance

*RES 3: $1.1725/30 Oct 23, Oct 18 lows, now resistance

*RES 2: $1.1675/80 Hourly highs Oct 26

*RES 1: $1.1644 Oct 27 high

*PRICE: $1.1633 @0945GMT 

*SUP 1: $1.1574 Oct 27 low

*SUP 2: $1.1531 5 week bear channel base projection

*SUP 3: $1.1506 1.618 swing of $1.1649-$1.1880, 2% vol band

*SUP 4: $1.1446 Jun 29 high, now support

*COMMENTARY* In the slightly bigger picture, the failure to regain the head and

shoulders neckline, at $1.1903 by time today, over the last month, has finally

conspired to send us lower. The loss of the Oct 6 low at $1.1649 and also the

1.618 projection target at $1.1615, now sees Friday's $1.1574 low as protection

against a fall into the lower $1.15's. As a result, resistance also falls,

$1.1644-$1.1680 initially, then from the recent $1.1725-$1.1730 lows.