Pullback Holds So Far Above Key...>

EURO-DOLLAR TECHS: Pullback Holds So Far Above Key $1.2384-85 Near Term Support

*RES 4: $1.2598 61.8% Fibo of $1.3994-$1.0340

*RES 3: $1.2538/39 Jan 25 high, 1% volatility band

*RES 2: $1.2523 Feb 1 high

*RES 1: $1.2491/95 Hourly resistance

*PRICE: $1.2470 @0910GMT 

*SUP 1: $1.2409/25 Feb 2 low, hourly support

*SUP 2: $1.2384/85 Hourly base Jan 30, Feb 1 low

*SUP 3: $1.2335 Jan 30 low

*SUP 4: $1.2323 Jan 17 high, now support

*COMMENTARY* Moved gradually higher over the earlier part of last week but was

unable to trade back through $1.2523-$1.2538, needed in order to shake off the

negative signals provided by last Thursday's 'Doji' candle close on the daily

chart. Subsequently lost support from $1.2470 on Friday, allowing a $1.2409 fall

so far. The $1.2385-$1.2384 area now seen as key support. Resistance $1.2491-95

but sustained break above $1.2538 needed before thoughts can turn higher again.