Downside Pressure Resumes After...>

EURO-DOLLAR TECHS: Downside Pressure Resumes After Rally Falters Below $1.2021

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

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

*RES 2: $1.2018/21 Jan 10 high, Jan 5 low

*RES 1: $1.1975/85 Hourly resistance

*PRICE: $1.1939 @0935GMT 

*SUP 1: $1.1910/16 Dec 27 high, Jan 9 low

*SUP 2: $1.1902 Dec 20 high, now support

*SUP 3: $1.1879/81 1% vol band, 76.4% of $1.1817-$1.2089

*SUP 4: $1.1853/59 Swing $1.1916-$1.2018, 2 month s/line

*COMMENTARY* Pressure on the 61.8% Fibo retrace level on Tuesday resulted in a

slightly lower $1.1916 fall, before rallying on the back of some oversold hourly

conditions. The subsequent move back above $1.1975-$1.1985 has helped to relieve

some of this pressure but has faltered at the base of higher $1.2021-$1.2052

resistance, where tougher questions are asked. Back below $1.1916-$1.1910 and

look for a dip into the congested $1.1902-$1.1853 area next.