$1.2325-$1.2320 The Protection....>

EURO-DOLLAR TECHS: $1.2325-$1.2320 The Protection Against Deeper Pullback 

*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: $1.2385/95 Hourly resistance

*PRICE: $1.2343 @1651GMT 

*SUP 1: $1.2320/25 Hourly congestion Apr 12-16

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

*SUP 3: $1.2261 Apr 9 low

*SUP 4: $1.2236 7 week bull channel base

*COMMENTARY* Not a lot has changed so far this week, rallies still failing below

the $1.2415-$1.2422 resistance area. Need a break through here, before the

chance of extending gains into the $1.2458-$1.2481 region, where the upper 1%

volatility band also resides today. Any higher and the 7 week bull channel top

at $1.2516 is then the bar to the year's previous $1.2556 high. Initial support

now from 1.2325-$1.2320, loss would take us back towards $1.2291-$1.2236.