(H18) 38.2% Fibo Level Gives,...>

US EURODOLLAR TECHS: (H18) 38.2% Fibo Level Gives, 97.960-97.935 Next Targets

*RES 4: 98.130 Jan 17 low, now resistance

*RES 3: 98.100 Feb 4, Feb 5 lows, now resistance

*RES 2: 98.075 Feb 8 high

*RES 1: 98.040 Feb 13 high

*PRICE: 97.975 @1145GMT

*SUP 1: 97.960 1.618 swing of 98.200-98.585, Apr 2013 high

*SUP 2: 97.935 76.4% Fibo of 97.530-99.240

*SUP 3: 97.910 Aug 10 2015 low

*SUP 4: 97.845 Aug 3 2015 low

*COMMENTARY* The decline has extended, following the short lived recovery to

98.145 last week. The subsequent slip below firstly 98.080 and then 98.050

support, has now been followed by the loss of the 38.2% Fibo retrace level at

97.995, this of the 95.980-99.240 rise, seen over the last 5 years. Now looking

to the swing target at 97.960 and perhaps the 76.4% retrace at 97.935. In the

meantime, 98.040-98.075 provides the near term bar to any recovery hopes.