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Recovery Still Dependent On.......>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Recovery Still Dependent On Sustained $1.1740-$1.1745 Break
*RES 4: $1.1839 Equality rise from $1.1575 to $1.1527-$1.1791
*RES 3: $1.1808/11 1% vol band, 1.618 swing $1.1751-$1.1654
*RES 2: $1.1791 Jul 9 high 
*RES 1: $1.1751 Jul 23 high
*PRICE: $1.1720 @0815GMT 
*SUP 1: $1.1675/85 Hourly support
*SUP 2: $1.1645/54 Hourly congestion Jul 19-20, Jul 24 low
*SUP 3: $1.1613/26 Jul 13 low, Jul 20 lows
*SUP 4: $1.1575 1% volatility band, Jul 20 low
*COMMENTARY* The lower 1% volatility band came under pressure last week before
launching into a correction of losses seen since the Jul 9 high at $1.1791. This
reached $1.1751 on Monday, just through the 76.4% Fibo retrace level at $1.1740,
and the last prominent peak at $1.1745. Will need to see a maintained rally
through here, before thoughts can turn to $1.1791-$1.1811 again and perhaps
$1.1839-$1.1852. Nearest support now from between $1.1685-$1.1645. 

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