Downside Pressure Sees Focus......>

EURO-DOLLAR TECHS: Downside Pressure Sees Focus Return To Key $1.1823-27 Area

*RES 4: $1.2005 Sep 22 high

*RES 3: $1.1955/65 Hourly consolidation area Sep 22

*RES 2: $1.1937 Sep 25 high

*RES 1: $1.1895 Hourly resistance

*PRICE: $1.1853 @0635GMT 

*SUP 1: $1.1823/27 Aug 31 low, 61.8% of $1.1662-$1.2093

*SUP 2: $1.1764/73 76.4% of $1.1662-$1.2093, Aug 25 low

*SUP 3: $1.1677 1% volatility band

*SUP 4: $1.1662 Aug 17 low

*COMMENTARY* The recent consolidation phase above key $1.1823 support continues

but resistance from $1.2005 and $1.2034 has capped the rallies over the last few

days and near term pressure has returned to the downside and on to that $1.1823

support. Loss here opens the prospect of a deeper correction of gains from the

Aug 17 low at $1.1662, beginning with $1.1773-$1.1764. Within the range, nearest

resistance now $1.1895-$1.1905 and then Monday's $1.1937 high.