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EURUSD pare yesterday's gains

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US EURODOLLAR TECHS
US EURODOLLAR TECHS: (M18) Break Above 6 Month Downtrend, Has 97.735-97.740 Next
*RES 4: 97.770 76.4% Fibo of 97.820-97.595
*RES 3: 97.735/740 61.8% of 97.820-97.595, Mar 27-28 highs 
*RES 2: 97.715 Hourly congestion May 14-15
*RES 1: 97.695 May 18 high
*PRICE: 97.675 @1110GMT
*SUP 1: 97.650 Hourly support
*SUP 2: 97.625 Congestion area Apr 18-May 3
*SUP 3: 97.585/595 Jun 29 2015 low, May 8 low
*SUP 4: 97.560 1.618 swing of 97.630-97.740
*COMMENTARY* Saw a move back above the 6 month falling resistance line last week
and this has moved lower by time this, to 97.590. Back above here encourages,
and we have subsequently seen a return towards 97.735-97.740. The former a 61.8%
Fibo retrace level, the latter the Mar 27-28 highs. Will need an eventual break
through here, before gains can be extended toward 97.770 next. Support 97.650
but it is 97.625 that currently protects against a 97.595 return.

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