Back Under Pressure As Decline....>

EURO-DOLLAR TECHS: Back Under Pressure As Decline Continues, $1.1773 Important

*RES 4: $1.1915/20 Hourly congestion highs Nov 30-Dec 1

*RES 3: $1.1877 Dec 5 high

*RES 2: $1.1848 Dec 6 high

*RES 1: $1.1825/35 Hourly resistance

*PRICE: $1.1794 @0910GMT 

*SUP 1: $1.1773 Initial recovery high Nov 22, 76.4% Fibo

*SUP 2: $1.1757/64 50% of $1.1554-$1.1961, hourly support

*SUP 3: $1.1740 1% volatility band

*SUP 4: $1.1728 1.618 swing of $1.1809-$1.1940

*COMMENTARY* The decline is now within striking distance of the key near term

support from around the 76.4% Fibo retrace level at $1.1773. This of the

$1.1713-$1.1961 rise seen at the back end of last month. Below and there is

still plenty of congested support from between $1.1764-$1.1728 that is capable

of providing protection to the next key area between $1.1713-$1.1709. Meanwhile,

resistance is falling $1.1825-$1.1848 the immediate brake to any recovery.