Recovery Yet To Challenge Key.....>

EURO-DOLLAR TECHS: Recovery Yet To Challenge Key $1.1645 Resistance

*RES 4: $1.1771 76.4% Fibo of $1.1852-$1.1508

*RES 3: $1.1721/25 61.8% of $1.1852-$1.1508, Jun 13 low

*RES 2: $1.1680 50% of $1.1852-$1.1508, hourly high Jun 14

*RES 1: $1.1634/45 Intraday, Jun 19 highs

*PRICE: $1.1598 @1630GMT 

*SUP 1: $1.1560/70 Hourly support

*SUP 2: $1.1531/38 Jun 19, Jun 20 lows

*SUP 3: $1.1508/10 Intraday, May 29 lows

*SUP 4: $1.1480 1.618 swing $1.1543-$1.1645

*COMMENTARY* The bearish 'Shooting Star' candle close and the upper 1%

volatility band, have conspired to send us down towards and marginally below the

year's previous $1.1510 low. The subsequent recovery through $1.1620, has yet to

test the key $1.1645 level, but looks to be 5 wave impulsive. Meanwhile,

$1.1570-$1.1531 provides a likely support area, loss will disappoint and put

$1.1480-$1.1430 back in the frame. $1.1680-$1.1771 potential above $1.1645.