Failure To Recover $1.1830........>

EURO-DOLLAR TECHS: Failure To Recover $1.1830 Launches Fresh Downside Foray

*RES 4: $1.1911/21 Aug 2 high, equality rise from $1.1119

*RES 3: $1.1860/70 Series congestion lows Aug 3-4

*RES 2: $1.1824/30 Intraday high, Aug 3 low

*RES 1: $1.1785/95 Hourly resistance

*PRICE: $1.1741 @1448GMT 

*SUP 1: $1.1712 Jul 25 high, 76.4% Fibo of $1.1650-$1.1911

*SUP 2: $1.1684 Jul 28 high

*SUP 3: $1.1650/65 Jul 27 low, 1% volatility band

*SUP 4: $1.1612/13 50% of $1.1312-$1.1911, Jul 16 low

*COMMENTARY* Faltered on Friday after entering into the early stages of the

$1.1906-$1.1921 target zone. This then followed by a break of the

$1.1815-$1.1777 area, which has spoiled recent upside momentum and triggered a

correction. So far, this has remained above the Jul 25 high and 76.4% Fibo

retrace level at $1.1712 where next clues are garnered. Lose here and not much

to stop $1.1650 and perhaps $1.1612.