Recoveries Still Capped Around....>

EURO-DOLLAR TECHS: Recoveries Still Capped Around Upper 1% Volatility Band

*RES 4: $1.2620 2% volatility band

*RES 3: $1.2598/04 61.8% $1.3994-$1.0340, 3 month res line

*RES 2: $1.2538 Jan 25 high

*RES 1: $1.2490/97 76.4% $1.2538-$1.2335, Jan 26 high, 1% vol

*PRICE: $1.2479 @1830GMT 

*SUP 1: $1.2425/30 Hourly support

*SUP 2: $1.2384/85 Hourly base Jan 30, intraday low

*SUP 3: $1.2335 Jan 30 low

*SUP 4: $1.2320/23 Equality fall from $1.2494, Jan 17 high

*COMMENTARY* Still requires a move back through $1.2497-$1.2538 in order to

shake off the negative signals provided by last Thursday's 'Doji' candle close

on the daily chart. The most recent fall has found support from above $1.2384

but with the move back above $1.2475 resistance, now has earlier support from

$1.2430-$1.2425. Directly above $1.2538 will open up the 61.8% Fibo retrace

level at $1.2598 and the 3 month rising resistance line at $1.2604.