Rally Reaches Into................>

EURO-DOLLAR TECHS: Rally Reaches Into $1.2065-$1.2080 Resistance Zone

*RES 4: $1.2167 50% Fibo of $1.3994-$1.0340

*RES 3: $1.2147 4 month rising resistance line

*RES 2: $1.2080 2% volatility band

*RES 1: $1.2065/70 1.618 swing $1.1911-$1.1662, intraday high

*PRICE: $1.2026 @1551GMT 

*SUP 1: $1.1980/85 Hourly support

*SUP 2: $1.1956 Hourly base Aug 28

*SUP 3: $1.1917 Aug 28 low

*SUP 4: $1.1847 Aug 11 high, now support

*COMMENTARY* As mentioned yesterday, the break of the previous $1.1911-$1.1662

range suggested scope for a rally into $1.2047-$1.2065 next. The latter slightly

exceeded today but has further resistance from the upper 2% volatility band, at

$1.2080 today. A sustained break here and likely that the next target area will

be between $1.2147-$1.2167. The latter a longer term Fibo retrace level. Support

on the rise, $1.1985-$ 1.1956 but $1.1917 of more importance.