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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.