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EURO-DOLLAR TECHS: Pullback Within Sight Of Recent Range Base
*RES 4: $1.2329/36 Apr 19, Apr 17 lows, now resistance
*RES 3: $1.2299/00 Apr 12 low, Apr 20 recovery high
*RES 2: $1.2270/75 Hourly congestion area Apr 20-23
*RES 1: $1.2230/43 Hourly resistance, base broken channel
*PRICE: $1.2194 @0808GMT
*SUP 1: $1.2185 1% volatility band
*SUP 2: $1.2153/55 Equality fall from $1.2415, Mar 1 low
*SUP 3: $1.2091/93 1.618 swing $1.2215-$1.2415, Sep 8 high
*SUP 4: $1.2073 2% volatility band
*COMMENTARY* Monday saw the fall continue back within the recent range, above
the Mar 1 low at $1.2155. The slide was exacerbated by the loss of the 8 week
bull channel base, which is at $1.2243 today. A low of $1.2184 challenging the
lower 1% volatility band. This is what stands ahead of a $1.2155-$1.2153 return.
Resistance from $1.2230-$1.2243, above would help but $1.2270-$1.2275 is tough
higher. Lose $1.2153 and not much to stop $1.2093-$1.2091.