Recovery Falters Ahead Of.........>

EURO-DOLLAR TECHS: Recovery Falters Ahead Of $1.1898 Resistance

*RES 4: $1.2009 May 3 high

*RES 3: $1.1977 May 7 high

*RES 2: $1.1939 May 8 high

*RES 1: $1.1897/98 May 9 high, May 7 low

*PRICE: $1.1859 @0813GMT 

*SUP 1: $1.1823/28 May 9 low, 1.618x $1.2556-$1.2155 

*SUP 2: $1.1777/90 Swing $1.1823-$1.1897,76.4% $1.1554-$1.2556

*SUP 3: $1.1738 Dec 15 low

*SUP 4: $1.1709/17 38.2% $1.0340-$1.2556, Dec 12 low, 2% vol

*COMMENTARY* The projection target at $1.1828 under challenge Wednesday, a low

of $1.1823 before encountering some oversold hourly conditions. Initial

resistance from the May 7 low at $1.1898 carries some importance above. Will

need to climb back through here before any rally will carry the threat of a

decent sized correction. Below $1.1823 and the 76.4% Fibo level at $1.1790 and

swing target at $1.1777, protect against a deeper fall.