Consolidation Continues Above.....>

EURO-DOLLAR TECHS: Consolidation Continues Above Last Month's Low

*RES 4: $1.1747/57 1% vol band, equality rise from $1.1591

*RES 3: $1.1721 61.8% Fibo of $1.1852-$1.1508, Jun 26 high

*RES 2: $1.1693 Jun 29 high

*RES 1: $1.1665/77 Hourly resistance

*PRICE: $1.1665 @0748GMT 

*SUP 1: $1.1590/91 Hourly support, Jul 2 low

*SUP 2: $1.1551 Hourly basing area Jun 28

*SUP 3: $1.1527 Jun 28 low

*SUP 4: $1.1508/13 Jun 21 low, 1% volatility band

*COMMENTARY* The consolidation pattern above last month's $1.1508 low continues

to grow, with the hold of $1.1590 support on Monday. Now looking at resistance

from between $1.1665-$1.1675, above which would allow another look at

$1.1693-$1.1721 and potentially the $1.1747-$1.1757 region. All this below the

key near term level, the 76.4% Fibo retrace at $1.1771. A loss of $1.1590 would

switch attention back to $1.1551-$1.1527.