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(M18) 97.680 The Main...........>

US EURODOLLAR TECHS
US EURODOLLAR TECHS: (M18) 97.680 The Main Resistance To Current Recovery
*RES 4: 97.720/25 23.6% 98.505-97.475, 61.8% 97.880-97.475
*RES 3: 97.705/710 Mar 2 high, Feb 2 low
*RES 2: 97.680 Mar 28 high
*RES 1: 97.640 May 29 high
*PRICE: 97.585 @1145GMT
*SUP 1: 97.555/575 May 28 low, May 14 high
*SUP 2: 97.535 Congestion area May 15-18
*SUP 3: 97.500/510 May 17-22 lows
*SUP 4: 97.475 Apr 25, May 8 lows
*COMMENTARY* Saw a move back above the 6 month falling resistance line earlier
in the month, which has fallen by time to 97.425 this week and this has
encouraged some recovery. We have subsequently seen a rally back to 97.640 so
far, the Mar 28 high at 97.680 the next resistance of consequence higher. As a
result, support rises to 97.575-97.555, although 97.535-97.500 provides a
stronger base below. 

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