Key Near Term Support Remains.....>

EURO-DOLLAR TECHS: Key Near Term Support Remains Under Pressure

*RES 4: $1.1911/21 Aug 2 high, equality rise from $1.1119

*RES 3: $1.1860/70 Series congestion lows Aug 3-4

*RES 2: $1.1824/30 Aug 8 high, Aug 3 low

*RES 1: $1.1785/95 Hourly resistance

*PRICE: $1.1727 @0854GMT 

*SUP 1: $1.1712 Jul 25 high, 76.4% Fibo of $1.1650-$1.1911

*SUP 2: $1.1682/84 38.2% of $1.1312-$1.1911, Jul 21 high

*SUP 3: $1.1650/65 Jul 27 low, 1% volatility band

*SUP 4: $1.1612/13 50% of $1.1312-$1.1911, Jul 16 low

*COMMENTARY* Support from the key near term level at $1.1712 has stubbornly

refused to give way so far but is likely to come under further pressure, as the

day wears on. Below here and have to think about a correction of gains from the

early July low at $1.1312, with $1.1682-$1.1684 the next port of call. For the

time being, $1.1785-95 remains as near term resistance and the bar to any

greater recovery. Lose $1.1682 and $1.1650-$1.1612 then comes into play.