Approaching Decent Support Area...>

EURO-DOLLAR TECHS: Approaching Decent Support Area Between $1.1679-$1.1620

*RES 4: $1.1859/61 Head & Shoulders neckline, Sep 20 low

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

*RES 2: $1.1788 Oct 4 high

*RES 1: $1.1745/50 Hourly resistance

*PRICE: $1.1697 @0849GMT 

*SUP 1: $1.1662/79 Aug 17 low, 23.6% Fibo of $1.0340-$1.2093

*SUP 2: $1.1639/45 2 recent swing targets, 1% vol band

*SUP 3: $1.1620 1.618x $1.2093-$1.1837 from $1.2034

*SUP 4: $1.1528 2% volatility band

*COMMENTARY* Slipping lower as we move towards the next set of supports,

initially from $1.1679-$1.1662 and then between $1.1645-$1.1620. Again some

oversold near term conditions are evident but will need a move back above

$1.1745-$1.1750 and then more importantly Wednesday's $1.1788 high, before any

belief in a recovery will arise and allow a correction of losses from last

month's $1.2093 high. Below $1.1620 and not much until $1.1528.