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Correction Continues, $1.1680.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Correction Continues, $1.1680 Ahead Of Key $1.1725-30 Area
*RES 4: $1.1790 Initial low Oct 20, now resistance
*RES 3: $1.1753 Oct 25 low, now resistance
*RES 2: $1.1725/30 Oct 23, Oct 18 lows, now resistance
*RES 1: $1.1675/80 Hourly highs Oct 26
*PRICE: $1.1633 @0945GMT 
*SUP 1: $1.1595/05 Hourly support
*SUP 2: $1.1574 Oct 27 low
*SUP 3: $1.1524 5 week bear channel base projection
*SUP 4: $1.1506 1.618 swing of $1.1649-$1.1880
*COMMENTARY* Still finding near term support from above last Friday's $1.1574
low, as we continue to correct some near term oversold conditions. Having moved
above $1.1644, this now sees $1.1675-$1.1680 as the next resistance area of
note, before we reach the more important $1.1725-$1.1730 region. A move back
above the latter is needed to disrupt recent downside momentum. In the meantime,
look to $1.1605-$1.1595 as protection against a fresh down move.

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