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Consolidation Phase Continues.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Consolidation Phase Continues Above Key $1.1823 Support
*RES 4: $1.2052 1% volatility band
*RES 3: $1.2033/34 76.4% of $1.2093-$1.1837, Sep 20 high
*RES 2: $1.2005 Sep 22 high
*RES 1: $1.1970/80 Hourly resistance
*PRICE: $1.1907 @0855GMT 
*SUP 1: $1.1891/98 Hourly base Sep 21, Sep 22 low
*SUP 2: $1.1861 Sep 20 low
*SUP 3: $1.1823/27 Aug 31 low, 61.8% of $1.1662-$1.2093
*SUP 4: $1.1764/73 76.4% of $1.1662-$1.2093, Aug 25 low
*COMMENTARY* The recent consolidation phase above key $1.1823 support continues
but resistance from $1.2005 and $1.2034 has capped the rallies over the last few
days and near term pressure has returned towards $1.1891-$1.1861 support. The
latter is the protection to that important $1.1823 level and with it the
prospect of a deeper correction of gains from the Aug 17 low at $1.1662. Within
the range, nearest resistance now $1.1970-$1.1980.

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