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US EURODOLLAR TECHS: (H18) 98.185-98.165 Next Support Area As Decline Continues
*RES 4: 98.345 Oct 6 low, now resistance
*RES 3: 98.325 Nov 15 high
*RES 2: 98.290 Nov 14 low, Nov 22, 24, 28 & 29 highs
*RES 1: 98.245/250 Dec 28, 29 & Dec 14 highs
*PRICE: 98.180 @1153GMT
*SUP 1: 98.175/180 Jan 4 low, 1.618 swing of 98.205-98.245
*SUP 2: 98.165 Mar 30 2015 high, now support
*SUP 3: 98.080 Dec 2015 low
*SUP 4: 98.055 Nov 2015 low
*COMMENTARY* Have finally seen a slip below 98.200, opening the way for a look
at 98.185-98.165 where the next layer of support lies. Any lower than this and
there is the chance for a potentially deeper fall, as not much is currently then
evident ahead of the December 2015 low at 98.080. Meanwhile, the failure to
recover through 98.245-98.250 has been the catalyst for the latest fall, still
need back above here for any respite.