Correcting After $1.1966 Fibo.....>

EURO-DOLLAR TECHS: Correcting After $1.1966 Fibo Resistance Caps Rise

*RES 4: $1.2020 Equality rise from $1.1713 to $1.1554-$1.1861

*RES 3: $1.1961/66 Nov 27 high, 76.4% Fibo of $1.2093-$1.1554

*RES 2: $1.1920/29 Nov 28 high, 76.4% Fibo of $1.1961-$1.1826

*RES 1: $1.1891/01 Nov 27 low, hourly high Nov 28

*PRICE: $1.1865 @0740GMT 

*SUP 1: $1.1826 Nov 28 low

*SUP 2: $1.1809 Nov 20 high, now support

*SUP 3: $1.1773 Initial recovery high Nov 22, now support

*SUP 4: $1.1757 50% Fibo of $1.1554-$1.1961

*COMMENTARY* Moved through the swing target at $1.1952 on Monday but was unable

to deal with Fibo resistance at $1.1966. A high of $1.1961 before retreating on

the back of some overbought hourly conditions. With the subsequent loss of

$1.1861-$1.1837 support, this now has scope to see a further $1.1809-$1.1773

fall. In the interim, resistance comes initially from $1.1891-$1.1901 but back

through $1.1920-$1.1929 needed to renew upside confidence.