$1.2291 Loss Opens Door To........>

EURO-DOLLAR TECHS: $1.2291 Loss Opens Door To $1.2261-$1.2238 Next

*RES 4: $1.2415/22 76.4% of $1.2477-$1.2215, Mar 28 high

*RES 3: $1.2380 Congestion area Apr 18-19

*RES 2: $1.2353/58 Intraday high, hourly recovery high Apr 19

*RES 1: $1.2329/36 Apr 19, Apr 17 lows, now resistance

*PRICE: $1.2271 @1420GMT 

*SUP 1: $1.2261 Apr 9 low, 76.4% Fibo of $1.2215-$1.2415

*SUP 2: $1.2238 7 week bull channel base

*SUP 3: $1.2224 1% volatility band 

*SUP 4: $1.2155 Mar 1 low

*COMMENTARY* After failing to trouble $1.2415-$1.2422 resistance earlier in the

week, there has been a gradual slide lower, initially back toward

$1.2310-$1.2291 support. A loss of the latter sees recent upside momentum takes

a hit and allows some deeper correction of gains seen from the month's earlier

$1.2215 base, beginning with $1.2261-$1.2238. In the meantime, resistance comes

from $1.2329-$1.2358 but currently needing back above $1.2380 for impetus.