Recoveries Still Shy Of Upper.....>

EURO-DOLLAR TECHS: Recoveries Still Shy Of Upper 1% Volatility Band

*RES 4: $1.2604/15 3 month rising res line, 2% vol band

*RES 3: $1.2538 Jan 25 high

*RES 2: $1.2490/94 76.4% $1.2538-$1.2335, Jan 26 high, 1% vol

*RES 1: $1.2475 Jan 31 high

*PRICE: $1.2439 @0915GMT 

*SUP 1: $1.2384 Hourly base Jan 30

*SUP 2: $1.2335 Jan 30 low

*SUP 3: $1.2320/23 Equality fall from $1.2494, Jan 17 high

*SUP 4: $1.2307 61.8% Fibo of $1.2165-$1.2538

*COMMENTARY* Still requires a move back through $1.2494-$1.2538 in order to

shake of 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

now faces earlier $1.2455-$1.2475 resistance, before another attempt higher can

be seen. Below $1.2384 and there is still congested support most notably from

above $1.2323-$1.2307, that protects against a deeper correction.