$1.1675 Becomes Pivotal To Near...>

EURO-DOLLAR TECHS: $1.1675 Becomes Pivotal To Near Term Direction

*RES 4: $1.1771 76.4% Fibo of $1.1852-$1.1508

*RES 3: $1.1733 1% volatility band

*RES 2: $1.1721 61.8% Fibo of $1.1852-$1.1508, Jun 26 high

*RES 1: $1.1675/80 76.4% $1.1721-$1.1527, hourly resistance

*PRICE: $1.1673 @1503GMT 

*SUP 1: $1.1601 Jun 28 high, now support

*SUP 2: $1.1551 Hourly basing area Jun 28

*SUP 3: $1.1527 Jun 28 low

*SUP 4: $1.1501/08 1% volatility band, Jun 21 low

*COMMENTARY* Thursday's fall from the week's $1.1721 high, was held at $1.1527,

keeping the month's previous $1.1508 low out of trouble for the time being.

Subsequently, having exceeded $1.1590-$1.1600 resistance, the recovery has grown

in pace, reaching towards the near term pivot level at $1.1675. Will need to go

on and reclaim levels above here, if there is to be a complete turnaround in

fortunes. Meanwhile, $1.1601 provides support against a $1.1551-$1.1527 return.