(Z17) 98.510-98.525 In The......>

US EURODOLLAR TECHS: (Z17) 98.510-98.525 In The Way Of Any Recovery Hopes

*RES 4: 98.580 Sep 14 high

*RES 3: 98.555 Aug 25 low, now resistance

*RES 2: 98.525 Sep 25, Sep 28 highs

*RES 1: 98.510 Oct 13 high

*PRICE: 98.485 @1106GMT

*SUP 1: 98.470 Apr 24, Oct 6 lows

*SUP 2: 98.455 61.8% Fibo of 98.335-98.655

*SUP 3: 98.410 76.4% Fibo of 98.335-98.655

*SUP 4: 98.360 Dec 15 low

*COMMENTARY* Having lost 98.495 support earlier in the month, the 98.470 level

has since provided some interim support and protection to the 61.8% Fibo retrace

level at 98.455. That said, any recovery will need to deal firstly with the Oct

13 high at 98.510 and then more importantly the dual highs at 98.525. Through

here the minimum requirement to provide some respite and allow some greater

correction of the losses seen since the Sep 8 high at 98.635.