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US EURODOLLAR TECHS: (U18) 97.560 Resistance Proving Difficult To Break
*RES 4: 97.640 May 29 high
*RES 3: 97.600 76.4% Fibo of 97.640-97.475
*RES 2: 97.575 May 14 high, 61.8% of 97.640-97.475
*RES 1: 97.560 Jun 7 high
*PRICE: 97.545 @0832GMT
*SUP 1: 97.520 Hourly support
*SUP 2: 97.500 Jun 14 low
*SUP 3: 97.475 Apr 25, May 8 lows
*SUP 4: 97.425 50% Fibo of 95.695-99.155
*COMMENTARY* Saw a move back above the 9 month falling resistance line in early
May and this has been the precursor to some recovery. We have subsequently seen
a rally back to 97.640 where the rally stalled. As a result, there has been a
fresh fall below 97.500 support, although the decline has been held by the
stronger 97.475 level. This remains key to overall direction. Nearest resistance
97.560-97.575, although above 97.600 needed for impetus.