Correction Continues,.............>

EURO-DOLLAR TECHS: Correction Continues, $1.1921-$1.1881 Next Band Of Support

*RES 4: $1.2089/93 Jan 4, Sep 8 highs

*RES 3: $1.2051/52 Hourly recovery highs Jan 5

*RES 2: $1.2021 Jan 5 low, now resistance

*RES 1: $1.1980/85 Hourly resistance

*PRICE: $1.1921 @1808GMT 

*SUP 1: $1.1916/21 Intraday low, 61.8% of $1.1817-$1.2089

*SUP 2: $1.1902/10 Dec 20, Dec 27 highs, now support

*SUP 3: $1.1881 76.4% Fibo of $1.1817-$1.2089

*SUP 4: $1.1863/74 Dec 14 high, 1% volatility band

*COMMENTARY* Key support from the $1.1993 area gave way on Monday, as did

$1.1980-85, the 38.2% Fibo retrace of the recent $1.1817-$1.2089 rise. This

allows a deeper correction of those gains, which with today's loss of $1.1953,

puts $1.1921-$1.1881 in the shop window. Meanwhile, after failing to trouble

$1.2093 and the upper 1% volatility band at the end of last week, resistance

comes from $1.1980-$1.2021 but requiring back above $1.2052 for impact.