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Falters Below $1.2406-09,.........>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Falters Below $1.2406-09, Watching Bull Channel Base
*RES 4: $1.2460 Congestion area Jan 31-Feb 2
*RES 3: $1.2406/09 Feb 2 low, Feb 7 high
*RES 2: $1.2392 Intraday high
*RES 1: $1.2355/65 Hourly resistance
*PRICE: $1.2319 @1435GMT 
*SUP 1: $1.2272 76.4% Fibo of $1.2235-$1.2392
*SUP 2: $1.2248 3 month bull channel base projection
*SUP 3: $1.2227/35 1% volatility band, hourly base Feb 12
*SUP 4: $1.2206 Feb 9 low
*COMMENTARY* Has found support over the last few days from above the 3 month
bull channel base projection, at $1.2248 by time today. This now the protection
to a renewed downside push, the Feb 9 low at $1.2206 then ahead of the 38.2%
Fibo retrace level at $1.2162. Meanwhile, the subsequent bounce  broke above
$1.2370-75 today, although the failure to test $1.2406-$1.2409 is an initial
concern. Main resistance $1.2460-$1.2475. Nearest support now $1.2272.

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