(M18) Last Month's 97.700 Low...>

US EURODOLLAR TECHS: (M18) Last Month's 97.700 Low Back Under Pressure

*RES 4: 97.860/870 Feb 2 low, 61.8% Fibo of 97.980-97.700

*RES 3: 97.840 50% Fibo of 97.980-97.700

*RES 2: 97.820 Mar 2 high

*RES 1: 97.775/790 Hourly resistance

*PRICE: 97.705 @1043GMT

*SUP 1: 97.690/700 Mar 13, Feb 28 lows

*SUP 2: 97.640 Jul 13 2015 low

*SUP 3: 97.625 1.618 swing of 97.700-97.820

*SUP 4: 97.585 Jun 29 2015 low

*COMMENTARY* The continuous decline finally came to a halt at 97.700 earlier

this month. The subsequent recovery began to correct losses, initially from the

Feb 6 high at 97.980. In this respect, following the Mar 2 bounce to 97.820, the

next Fibo retrace level higher is the 50% at 97.840. Has faltered in the

meantime, 97.725 now lost and removing the protection to 97.700 again and

potentially lower. Nearest resistance falls to 97.775-97.790.