Rally Stifled Around 76.4%........>

EURO-DOLLAR TECHS: Rally Stifled Around 76.4% Recovery Point

*RES 4: $1.1830 May 22 high

*RES 3: $1.1789/90 May 23 high, hourly high May 22

*RES 2: $1.1751/58 May 24 high, 7 week falling resistance line

*RES 1: $1.1726/29 76.4% of $1.1751-$1.1646, intraday high

*PRICE: $1.1695 @0800GMT 

*SUP 1: $1.1665/75 Hourly support

*SUP 2: $1.1646/47 May 25 low, 1.618 swing of $1.1717-$1.1830

*SUP 3: $1.1634 1.618x $1.1838-$1.1717 from $1.1830

*SUP 4: $1.1592 Max 5th wave target in fall from $1.2477

*COMMENTARY* After attempting to break lower, found some support on Friday from

the swing target at $1.1647. Became oversold near term but the subsequent rally

has been stifled around the 76.4% Fibo retrace level at $1.1726. Will need to

sustain a move back through here at a minimum, before the chance of a challenge

to the higher $1.1751-$1.1790 region. Initial support $1.1675-$1.1665, then

$1.1646-$1.1634 protecting against a further $1.1595-$1.1592 fall.