Stg0.8740-Stg0.8759.............>

EURO-STERLING TECHS: Stg0.8740-Stg0.8759 Resistance As 1% Vol Band Holds Fall 

*RES 4: Stg0.8794/98 50% Stg0.8968-Stg0.8620, Mar 27 high

*RES 3: Stg0.8777 1% volatility band

*RES 2: Stg0.8753/59 38.2% Stg0.8968-Stg0.8620, Apr 4 high

*RES 1: Stg0.8740 Apr 11 high

*PRICE: Stg0.8714 @0929GMT

*SUP 1: Stg0.8680/90 Hourly support

*SUP 2: Stg0.8645 Congested support area Apr 12-16

*SUP 3: Stg0.8620 Apr 17 low

*SUP 4: Stg0.8603/05 May 24 low, 1% volatility band

*COMMENTARY* Unable to sustain a break below the 6 month bear channel base this

week, a brief dip to Stg0.8620 was held by the lower 1% volatility band at the

time. The subsequent rise, aided by some oversold conditions now has Stg0.8740

and more importantly Stg0.8753-Stg0.8759 in the way of any further upside

ambitions. While capped here, look to Stg0.8690-Stg0.8680 for initial support,

Stg0.8645 below. Through Stg0.8759 and Stg0.8777 next.