Finds Support From 61.8% Fibo.....>

EURO-DOLLAR TECHS: Finds Support From 61.8% Fibo Level On Wednesday

*RES 4: $1.2139 Apr 30 high

*RES 3: $1.2096/06 Apr 26 low, Apr 30 hourly recovery high

*RES 2: $1.2055/64 Apr 27, Apr 30 lows, now resistance

*RES 1: $1.2010/32 Hourly resistance, May 2 high

*PRICE: $1.2000 @0825GMT 

*SUP 1: $1.1937 61.8% Fibo of $1.1554-$1.2556

*SUP 2: $1.1916 Jan 9 low

*SUP 3: $1.1872 2% volatility band

*SUP 4: $1.1828 1.618x $1.2556-$1.2155 from $1.2477

*COMMENTARY* Further downside exuberance on Wednesday saw the $1.1981-$1.1954

area lost, with eventual support found from the 61.8% Fibo retrace level at

$1.1937. Is currently correcting some oversold conditions, with $1.2010 the

initial bar to any bounce, $1.2032 higher but no real corrective impact will be

felt, until such time as resistance from between $1.2055-$1.2106 is overcome.

Below $1.1937 and the Jan 9 low at $1.1916, ahead of the 2% vol band.