Full Recovery Still Requires A....>

EURO-DOLLAR TECHS: Full Recovery Still Requires A $1.2523-$1.2538 Break

*RES 4: $1.2647 2% volatility band

*RES 3: $1.2598/18 61.8% $1.3994-$1.0340, 3 month res line

*RES 2: $1.2538 Jan 25 high

*RES 1: $1.2523 Feb 1 high, 1% volatility band

*PRICE: $1.2483 @0930GMT 

*SUP 1: $1.2470/75 Hourly support, Jan 31 high

*SUP 2: $1.2432 Hourly base Feb 1

*SUP 3: $1.2384/85 Hourly base Jan 30, Feb 1 low

*SUP 4: $1.2335 Jan 30 low

*COMMENTARY* Moving gradually higher but still in need of a move back through

$1.2523-$1.2538 in order to shake off the negative signals provided by last

Thursday's 'Doji' candle close on the daily chart. Support moving higher as

well, $1.2475-$1.2470 the initial protection against a deeper $1.2432 fall. The

$1.2385-$1.2384 area now seen as key support. Sustained break above $1.2538

allows a further $1.2598-$1.2618 rise next, ahead of the 2% volatility band.