Recovery Falls Short Of Key.......>

EURO-DOLLAR TECHS: Recovery Falls Short Of Key $1.1854-$1.1856 Resistance

*RES 4: $1.1930/39 76.4% of $1.1996-$1.1717, May 15 high

*RES 3: $1.1889 61.8% Fibo of $1.1996-$1.1717

*RES 2: $1.1854/56 May 16 high, 50% of $1.1996-$1.1717

*RES 1: $1.1824/30 38.2% of $1.1996-$1.1717, intraday high

*PRICE: $1.1783 @1520GMT 

*SUP 1: $1.1757/70 Intraday low, hourly support

*SUP 2: $1.1726/43 1% volatility band, hourly base May 21

*SUP 3: $1.1713/17 Nov 21, Dec 12 & May 21 lows

*SUP 4: $1.1709 38.2% Fibo of $1.0340-$1.2556

*COMMENTARY* Found support on Monday from the top of the anticipated

$1.1717-$1.1709 area. Today's move above $1.1790-$1.1795 offered initial

encouragement, now needing to sustain a break of $1.1822-$1.1824. Through here

and $1.1854-$1.1856 then becomes important, as it also includes the falling

resistance line from the mid April highs. Support $1.1770-$1.1757, currently

backed up by $1.1743 and the lower 1% volatility band at $1.1726.