Fibo Support From $1.2055 Back....>

EURO-DOLLAR TECHS: Fibo Support From $1.2055 Back Under Pressure

*RES 4: $1.2210 Apr 26 high

*RES 3: $1.2182 Apr 24 low, now resistance

*RES 2: $1.2139 Apr 30 high

*RES 1: $1.2106/15 Apr 30 hourly high, hourly resistance

*PRICE: $1.2060 @0754GMT 

*SUP 1: $1.2035/55 Hourly support 50%, Apr 27 low 

*SUP 2: $1.2029 11 week bear channel base projection

*SUP 3: $1.1990 1.618 projection target from $1.2415

*SUP 4: $1.1954/61 2% vol, swing $1.2155-$1.2477, Nov 27 high  

*COMMENTARY* Friday saw the 50% Fibo retrace level at $1.2055 offer some support

to the decline from the Apr 17 high at $1.2415. The subsequent bounce reached

$1.2139 but currently needs to overcome $1.2182-$1.2210, before the belief in a

higher $1.2245-$1.2329 recovery will appear. Meanwhile, that $1.2055 low is back

under pressure, beneath which $1.2035-$1.1990 is then the protection to

$1.1961-$1.1954. Nearest resistance now $1.2106-$1.2115.