Near Term Support Seen From.......>

EURO-DOLLAR TECHS: Near Term Support Seen From Between $1.1764-$1.1755

*RES 4: $1.2047 July 2012 low, now resistance

*RES 3: $1.1927 2% volatility band

*RES 2: $1.1881 June 2010 low, now resistance

*RES 1: $1.1855 1.618 swing $1.1777-$1.1650

*PRICE: $1.1820 @0858GMT 

*SUP 1: $1.1755/64 Hourly support, Jul 28 high now support

*SUP 2: $1.1723 Jul 31 low

*SUP 3: $1.1684 Jul 24 high, now support

*SUP 4: $1.1650 Jul 27 low

*COMMENTARY* Monday's late rally took us above the 4 month bull channel

projection and on the approach to the next resistance, from the swing target at

$1.1855. Currently correcting some near term overbought conditions but any

setback is likely just a 4th wave correction in the rise from $1.1650, while

above Friday's $1.1764 high. Directly above $1.1855 and the June 2010 low at

$1.1881 is noted ahead of the 2% volatility band at $1.1927.