A Hold Of $1.1763 Is Important....>

EURO-DOLLAR TECHS: A Hold Of $1.1763 Is Important To Further Recovery Hopes

*RES 4: $1.1915 1% volatility band

*RES 3: $1.1903 76.4% Fibo of $1.1961-$1.1717

*RES 2: $1.1863/68 Dec 14 high, 61.8% Fibo of $1.1961-$1.1717

*RES 1: $1.1830/40 Hourly resistance

*PRICE: $1.1795 @1015GMT 

*SUP 1: $1.1763/65 Initial recovery high Dec 13, Dec 14 low

*SUP 2: $1.1709/13 61.8% of $1.1554-$1.1961, Nov 21 low

*SUP 3: $1.1694 1.618x 1.1961-$1.1809 from $1.1940

*SUP 4: $1.1650/60 76.4% Fibo of $1.1554-$1.1961, 1% vol band

*COMMENTARY* Continued to find support from above $1.1713-$1.1709 this week and

the subsequent recovery through $1.1793-$1.1815 has allowed a correction of the

fall seen since the Nov 27 high at $1.1961. This has now reached towards the

61.8% Fibo retrace at $1.1868, before encountering some near term overbought

conditions. This sees $1.1763 as support, back below will disappoint now.

Resistance $1.1830-40, above $1.1868 and look to $1.1903 next.