Decline Accelerates After Cap.....>

EURO-DOLLAR TECHS: Decline Accelerates After Cap Below $1.1843 Fibo Level

*RES 4: $1.1837/43 Intraday high, 76.4% of $1.1880-$1.1725

*RES 3: $1.1803 Initial intraday low, now resistance

*RES 2: $1.1786 Intraday Hourly recovery highs

*RES 1: $1.1725/30 Oct 23, Oct 18 lows

*PRICE: $1.1702 @1550GMT 

*SUP 1: $1.1656/63 1.618 swing $1.1725-$1.1837, 1% vol band

*SUP 2: $1.1649/51 Oct 6 low, 1.618 swing of $1.1730-$1.1858

*SUP 3: $1.1615 1.618x $1.1880-$1.1730 from $1.1858

*SUP 4: $1.1546 2% volatility band

*COMMENTARY* Rally faltered at $1.1837, just shy of $1.1843, the 76.4% Fibo

retrace of the prior $1.1880-$1.1725 fall. The subsequent fall gathered pace

below $1.1750-60 and as a result the previous $1.1725-30 range base gave way, as

we head towards the next sets of support situated between $1.1663-$1.1649. The

latter the outstanding low from Oct 6. In the meantime, that $1.1725-30 area

reverts to resistance, the $1.1786-$1.1803 a tougher proposition above.