Downside Back In Trouble,.........>

EURO-DOLLAR TECHS: Downside Back In Trouble, Fallout From $1.1721 Swift

*RES 4: $1.1721 61.8% Fibo of $1.1852-$1.1508, Jun 26 high

*RES 3: $1.1672 Jun 27 high

*RES 2: $1.1635 Jun 26 low, now resistance

*RES 1: $1.1590/00 Hourly resistance

*PRICE: $1.1578 @1542GMT 

*SUP 1: $1.1527 Intraday low

*SUP 2: $1.1497/08 1% volatility band, Jun 21 low

*SUP 3: $1.1448 50% Fibo of $1.0340-$1.2556

*SUP 4: $1.1376/77 Swing $1.1508-$1.1721, equality fall target

*COMMENTARY* The fallout since reaching $1.1721 on Tuesday has been swift,

revealing the underlying downtrend. The fall has however been held at $1.1527 so

far, leaving the key $1.1508-$1.1497 area untouched as yet. That said,

$1.1590-$1.1635 provides a strong near term resistance area and in fact it would

take back above $1.1672 for things to really improve. Below $1.1497 and the 50%

Fibo at $1.1448 next, ahead of dual $1.1377-$1.1376 support.