Consolidation Phase Continues.....>

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.