Back Above $1.1795 Allows Some....>

EURO-DOLLAR TECHS: Back Above $1.1795 Allows Some Recovery

*RES 4: $1.1880 Oct 12 high

*RES 3: $1.1858 Oct 19-Oct 20 highs

*RES 2: $1.1843 76.4% Fibo of $1.1880-$1.1725

*RES 1: $1.1826/27 Hourly low Oct 19, hourly high Oct 20

*PRICE: $1.1804 @1540GMT 

*SUP 1: $1.1750/60 Hourly support

*SUP 2: $1.1725/30 Oct 23, Oct 18 lows

*SUP 3: $1.1705 Congestion area Oct 5-6

*SUP 4: $1.1675 1% volatility band

*COMMENTARY* Pressure has been back on the base of the recent consolidation, a

low of $1.1725 on Monday. The subsequent bounce helps to remove some of the

resultant oversold conditions and the move above $1.1795 is encouraging for at

least a $1.1826-$1.1843 rise. As a result nearest support now $1.1760-$1.1750.

Below $1.1725 and focus will switch to $1.1705 next, this the protection to the

lower 1% volatility band at $1.1675 and dual support between $1.1651-$1.1649.