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Bounces From Above 3 Month Bull...>

EURO-DOLLAR TECHS: Bounces From Above 3 Month Bull Channel Base 
*RES 4: $1.2460 Congestion area Jan 31-Feb 2
*RES 3: $1.2406/09 Feb 2 low, Feb 7 high
*RES 2: $1.2370/75 Congestion area Feb 5-Feb 7
*RES 1: $1.2335 Jan 30 low, now resistance
*PRICE: $1.2324 @0845GMT 
*SUP 1: $1.2285 Intraday low
*SUP 2: $1.2255/60 Hourly support
*SUP 3: $1.2230/34 1% vol band, 3 month bull channel base
*SUP 4: $1.2206 Feb 9 low
*COMMENTARY* Has found support over the last couple of days from above the 3
month bull channel base projection, at $1.2234 by time today. This coupled with
the Feb 9 low at $1.2206 are the protection to the 38.2% Fibo retrace level at
$1.2162. Meanwhile, the subsequent bounce is attempting to break above $1.2335,
this would provide a boost, although the congested $1.2370-75 region can pose a
further problem higher. Nearest support now $1.2285-$1.2255.

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