Break Of $1.1898 Resistance.......>

EURO-DOLLAR TECHS: Break Of $1.1898 Resistance Encouraging, $1.1965-77 Above

*RES 4: $1.2049 38.2% Fibo of $1.2414-$1.1823

*RES 3: $1.2009 May 3 high

*RES 2: $1.1965/77 76.4% of $1.2009-$1.1823, May 7 high

*RES 1: $1.1939/47 May 8, intraday highs

*PRICE: $1.1913 @1625GMT 

*SUP 1: $1.1855/65 Hourly support

*SUP 2: $1.1823 May 9 low

*SUP 3: $1.1790 76.4% Fibo of $1.1554-$1.2556

*SUP 4: $1.1738/46 Dec 15 low, 1.618 swing $1.1823-$1.1947

*COMMENTARY* A low of $1.1823 on Wednesday before encountering some oversold

hourly conditions. Initial resistance from the May 7 low at $1.1898 carries some

importance and the move back through here is encouraging. A high of $1.1947 so

far, as we make our way to the next checkpoint at $1.1965-$1.1977. Ideally

support from between $1.1865-$1.1855 stays intact now, else risk reverts lower

again, $1.1790-$1.1738 the next target area below $1.1823.