Rally Now Has $1.2021-$1.2052.....>

EURO-DOLLAR TECHS: Rally Now Has $1.2021-$1.2052 In Way Of Recovery

*RES 4: $1.2124 1% volatility band

*RES 3: $1.2089/93 Jan 4, Sep 8 high

*RES 2: $1.2051/52 Hourly recovery highs Jan 5

*RES 1: $1.2021 Jan 5 low, now resistance

*PRICE: $1.2003 @1250GMT 

*SUP 1: $1.1950/55 Hourly support

*SUP 2: $1.1916/21 Jan 9 low, 61.8% of $1.1817-$1.2089

*SUP 3: $1.1902/10 Dec 20, Dec 27 highs, now support

*SUP 4: $1.1881/83 76.4% of $1.1817-$1.2089,1% vol band 

*COMMENTARY* Pressure on the 61.8% Fibo retrace level on Tuesday resulted in a

slightly lower $1.1916 fall, before rallying on the back of some oversold hourly

conditions. The subsequent move back above $1.1975-$1.1985 has helped to relieve

some of this pressure, this potentially allowing a higher $1.2021-$1.2052 rise,

where tougher questions are then asked. Immediate support from $1.1955-$1.1950

before encountering the top of congested $1.1916-$1.1881 support again.