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US EURODOLLAR TECHS: (Z17) 98.515 Still Provides Key Near Term Support
*RES 4: 98.630 Jun 14 high
*RES 3: 98.610 Jun 6 high
*RES 2: 98.580/590 Congestion lows May 19-Jun 8, Jun 16 high
*RES 1: 98.560/565 Hourly resistance
*PRICE: 98.550 @1132GMT
*SUP 1: 98.515 Initial recovery high Jul 6, now support
*SUP 2: 98.495 Jul 6 low, 50% of 98.335-98.655
*SUP 3: 98.470 Apr 23 low
*SUP 4: 98.455 61.8% Fibo of 98.335-98.655
*COMMENTARY* Found support from the 50% Fibo retrace level at 98.495 earlier
last month, a recovery has reached the base of the 98.580-98.590 resistance
area. As a result, has become overbought in the near term and now giving back
some of those gains. In this respect, look to 98.515 for support and protection
against a return of the previous downtrend and 98.495 again. Resistance now from
98.560-98.565 ahead of 98.580-98.590 again.