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Continues Correction, Initially...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Continues Correction, Initially Of Gains From $1.2165
*RES 4: $1.2538 Jan 25 high
*RES 3: $1.2494 Jan 26 high
*RES 2: $1.2433 Jan 29 high
*RES 1: $1.2395/05 Hourly resistance
*PRICE: $1.2349 @0825GMT 
*SUP 1: $1.2320/23 Equality fall from $1.2494, Jan 17 high
*SUP 2: $1.2307 61.8% Fibo of $1.2165-$1.2538
*SUP 3: $1.2284 1.618 swing of $1.2364-$1.2494
*SUP 4: $1.2253 76.4% Fibo of $1.2165-$1.2538
*COMMENTARY* Rally reached the upper 2% volatility band last Thursday, before
retreating on the back of some heavily overbought conditions. The lower close
has brought about a potentially bearish 'Doji' candle on the daily chart. While
$1.2494-$1.2538 caps then the immediate risk is for lower. Initial support now
from $1.2323-$1.2307 and then more importantly $1.2284-$1.2253. Interim
resistance $1.2395-$1.2433.

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