$1.2240-$1.2231 Becomes Next......>

EURO-DOLLAR TECHS: $1.2240-$1.2231 Becomes Next Key Support Area

*RES 4: $1.2422 Mar 28 high

*RES 3: $1.2385 Hourly congestion Mar 27-Mar 28 

*RES 2: $1.2336/45 Apr 3, Apr 2 highs

*RES 1: $1.2310/20 Hourly resistance

*PRICE: $1.2260 @0725GMT 

*SUP 1: $1.2231/40 76.4% Of $1.2155-$1.2477, Mar 20 low

*SUP 2: $1.2208 1% volatility band

*SUP 3: $1.2155 Mar 1 low

*SUP 4: $1.2089/94 Jan 4 high, 1.618 swing $1.2240-$1.2477

*COMMENTARY* Continued downside pressure resulted in a low of $1.2254 on

Tuesday, as we make our way towards the next area of interest between the Mar 20

low at $1.2240 and the 76.4% Fibo retrace level at $1.2231. Will need to sustain

a break below here and then the lower 1% volatility band, at $1.2208 today,

before the risk will once again revert to Mar 1 low at $1.2155. In the meantime,

resistance $1.2310-$1.2320 but back above $1.2336-$1.2345 is needed for respite.