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Correcting After Rally Reaches....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Correcting After Rally Reaches Upper 2% Volatility Band
*RES 4: $1.2376 1.618x $1.1554-$1.1961 from $1.1717
*RES 3: $1.2329 Oct 2008 low, now resistance
*RES 2: $1.2311 2% volatility band
*RES 1: $1.2297 Jan 15 high
*PRICE: $1.2237 @0903GMT 
*SUP 1: $1.2205/15 Hourly support
*SUP 2: $1.2145/55 Hourly low/high Jan 12
*SUP 3: $1.2089/93 Jan 4, Sep 8 lows, now resistance
*SUP 4: $1.2059 Jan 11 high, now support
*COMMENTARY* The rally peaked at $1.2297 on Monday, basically in line with a
test to the upper 2% volatility band. This has moved slightly higher by time
today to $1.2311. Currently correcting some near term overbought conditions,
first clues likely to come from the $1.2215-$1.2205 area. Loss here will caution
and suggest some deeper correction of gains from last week's $1.1916 low is
required, beginning with $1.2155-$1.2145. 

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