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Recovery Now Meets................>

EURO-DOLLAR TECHS: Recovery Now Meets $1.2460-$1.2473 Resistance
*RES 4: $1.2597 2% volatility band
*RES 3: $1.2538 Jan 25 high
*RES 2: $1.2490/94 76.4% Fibo of $1.2538-$1.2335, Jan 26 high
*RES 1: $1.2460/73 61.8% of $1.2538-$1.2335, 1% vol band
*PRICE: $1.2444 @0923GMT 
*SUP 1: $1.2405 Hourly support
*SUP 2: $1.2384 Hourly base Jan 30
*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* Rally reached the upper 2% volatility band last Thursday, before
retreating on the back of some heavily overbought conditions. The lower close
has brought about a potentially bearish 'Doji' candle on the daily chart. While
$1.2494-$1.2538 caps then the immediate risk is still for lower. Has so far
found support from above $1.2320-23 thereby allowing a bounce on the back of
oversold hourly studies. $1.2460-73 initial resistance, $1.2405-$1.2384 support.

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