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Rally Continues $1.2265-$1.2292...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Rally Continues $1.2265-$1.2292 Next Potential Brake
*RES 4: $1.2376 1.618x $1.1554-$1.1961 from $1.1717
*RES 3: $1.2329 Oct 2008 low, now resistance
*RES 2: $1.2292 2% volatility band
*RES 1: $1.2265/70 Hourly resistance
*PRICE: $1.2249 @0945GMT 
*SUP 1: $1.2190/00 Hourly support
*SUP 2: $1.2145/55 Hourly low/high Jan 12
*SUP 3: $1.2089/93 Jan 4, Sep 8 lows, now resistance
*SUP 4: $1.2040/45 Congestion area Jan 11-12
*COMMENTARY* The move back through $1.2052 switched the bias back to the topside
and for an assault on $1.2089-$1.2093 resistance. This successfully followed on
Friday, then breaking the long term Fibo retrace at $1.2167 and the upper 1%
volatility band, at $1.2172 by time today. Now heading towards the 2% band at
$1.2292 with some interim resistance seen from $1.2265-70. Support currently
$1.2200-$1.2190, loss would allow some near term correction.

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