Pullback Returns Toward Base Of...>

EURO-DOLLAR TECHS: Pullback Returns Toward Base Of Recent Consolidation

*RES 4: $1.1880 Oct 12 high

*RES 3: $1.1858 Oct 19-Oct 20 highs

*RES 2: $1.1826/27 Hourly low Oct 19, hourly high Oct 20

*RES 1: $1.1790/00 Hourly resistance

*PRICE: $1.1742 @1535GMT 

*SUP 1: $1.1730 Oct 18 low

*SUP 2: $1.1705 Congestion area Oct 5-6

*SUP 3: $1.1685 1% volatility band

*SUP 4: $1.1649 Oct 6 low

*COMMENTARY* Still consolidating following the drop to and bounce from the lower

1% volatility band at $1.1649 on Oct 9. The recovery has since threatened the

head and shoulders neckline, at $1.1875 today. This and the Oct 12 high at

$1.1880, now bar the way higher. The subsequent fall sees support from

$1.1730-$1.1705 currently keeping the pressure off a return to that 1% band and

the Oct 6 low at $1.1649. Meanwhile, $1.1790-$1.1827 forms nearest resistance.