$1.2310-$1.2291 The Protection....>

EURO-DOLLAR TECHS: $1.2310-$1.2291 The Protection Against Deeper Correction

*RES 4: $1.2477/81 Mar 27 high, equality rise from $1.2299

*RES 3: $1.2458 1.618 swing $1.2397-$1.2299

*RES 2: $1.2415/22 76.4% of $1.2477-$1.2215, Mar 28 high

*RES 1: $1.2390/95 Hourly resistance

*PRICE: $1.2329 @0828GMT 

*SUP 1: $1.2310/23 Hourly support, intraday low

*SUP 2: $1.2291/99 Apr 6 high, Apr 12 low

*SUP 3: $1.2261 Apr 9 low

*SUP 4: $1.2229/38 1% vol band, 7 week bull channel base

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

week, there has been a gradual slide lower, back toward $1.2310-$1.2291 support.

Will need to lose the latter, before recent upside momentum takes a hit and

allows some deeper correction of gains seen from the month's earlier $1.2215

base. In the meantime, it will take a move back through $1.2390-$1.2395

resistance, to resurrect any substantial upside interest.