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1.12 Back Under Pressure EURUSD...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: 1.12 Back Under Pressure
EURUSD bounced like the Easter bunny over the holiday weekend, but the spring
higher has soon been forgotten as the cross fell to challenge 1.12 on the back
of broad USD strength. A break below 1.12 is needed to reignite downside
momentum, opening the Mar 7 low & channel base support at 1.1177/55. Bulls need
to initially recover Monday's high of 1.1262 ahead of 1.13 before challenging
the double-top resistance area at 1.1324. A break would generate renewed upside
momentum, opening a move towards the 50% retracement level & 100-dma at 1.1344.

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