$1.1800-$1.1847 The Bar To Any....>

EURO-DOLLAR TECHS: $1.1800-$1.1847 The Bar To Any Fresh Recovery Hopes

*RES 4: $1.1911/21 Aug 2 high, equality rise from $1.1119

*RES 3: $1.1879 1% volatility band

*RES 2: $1.1847 Aug 11 high

*RES 1: $1.1790/00 Aug 17 high, hourly resistance

*PRICE: $1.1739 @0859GMT 

*SUP 1: $1.1690/05 Hourly support

*SUP 2: $1.1644/62 1% volatility band, Aug 17 low

*SUP 3: $1.1625 Equality fall from $1.1847 to $1.1911-$1.1689

*SUP 4: $1.1612/13 50% of $1.1312-$1.1911, Jul 26 low

*COMMENTARY* The key $1.1682 support area came under assault last week, a brief

dip to $1.1662 before recovering yet again. To be of any consequence however,

will need to see a rally through $1.1800-$1.1847, before the belief in any

renewed upside potential will appear. In the interim, look to that

$1.1705-$1.1690 for initial support, loss of $1.1662-$1.1644 will have the

potential to test $1.1625-$1.1591 next, as this pullback continues.