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Recovers After Brief Break......>

EURO-STERLING TECHS
EURO-STERLING TECHS: Recovers After Brief Break Below 6 Month Trading Range
*RES 4: Stg0.8897 Mar 12 high, 76.4% of Stg0.8968-Stg0.8668
*RES 3: Stg0.8850/53 Mar 12 low, 61.8% of Stg0.8968-Stg0.8668
*RES 2: Stg0.8817 Mar 19 high
*RES 1: Stg0.8798/00 Intraday high, hourly resistance
*PRICE: Stg0.8764 @1630GMT
*SUP 1: Stg0.8735/40 Hourly support
*SUP 2: Stg0.8708/10 Mar 21, Mar 23 lows
*SUP 3: Stg0.8668 Mar 22 low
*SUP 4: Stg0.8642 Jun 8 low
*COMMENTARY* The fallout from the failure to deal with the top of the congested
6 month trading area early in the month, continued apace last week. Thursday's
sharp dip to Stg0.8668 briefly breaking the base of the range at Stg0.8687,
before finding respite on the back of some oversold hourly conditions. In this
respect, having broken above Stg0.8765-Stg0.8782, resistance comes from
Stg0.8800-Stg0.8817 next. Support now ranged between Stg0.8740-Stg0.8708.

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