$1.1750-$1.1763 The Immediate.....>

EURO-DOLLAR TECHS: $1.1750-$1.1763 The Immediate Bar To Recovery Efforts

*RES 4: $1.1855/61 Head & Shoulders neckline, Sep 20 low

*RES 3: $1.1833/37 Sep 29 high, Sep 14 low

*RES 2: $1.1804 Sep 28 high

*RES 1: $1.1750/63 Hourly resistance

*PRICE: $1.1721 @0705GMT 

*SUP 1: $1.1696 Intraday low, 1% volatility band

*SUP 2: $1.1662 Aug 17 low

*SUP 3: $1.1645 1.618 swing of $1.1833-$1.1717

*SUP 4: $1.1620 1.618x $1.2093-$1.1837 from $1.2034

*COMMENTARY* The swing target at $1.1715 has finally given way. The lower 1%

volatility band at $1.1696 offering some support, ahead of the next downside

targets strung between $1.1682-$1.1620. Has become oversold on an intraday

basis, looking to $1.1750-$1.1763 for initial clues. Back above here needed to

influence any recovery efforts, with $1.1804-$1.1837 then providing sterner

tests above. The head and shoulders neckline then at the higher $1.1855 level.