$1.2340-$1.2365 Now Bar The Way...>

EURO-DOLLAR TECHS: $1.2340-$1.2365 Now Bar The Way To Further Progress

*RES 4: $1.2415/20 1% vol band, broken bull channel base

*RES 3: $1.2403 61.8% Fibo of $1.2556-$1.2155

*RES 2: $1.2365 Mar 2 high

*RES 1: $1.2340/45 Hourly resistance

*PRICE: $1.2322 @0940GMT 

*SUP 1: $1.2252/69 Mar 2, intraday lows

*SUP 2: $1.2205 Hourly congestion Feb 28-Mar 1

*SUP 3: $1.2155/65 Mar 1 low, 1% volatility band

*SUP 4: $1.2093 Sep 8 high, now support

*COMMENTARY* Found support last week from a combination of the lower 1%

volatility band and a 38.2% Fibo retrace level. The subsequent recovery now

tries to renegotiate resistance from between $1.2340-$1.2365. Back through here

would allow a move up to the next area of note from $1.2403, a 61.8% Fibo level

and the swing target of the most recent $1.2365-$1.2269 fall, at $1.2424. In the

interim, that $1.2269 level and the Mar 2 low at $1.2252 provide support.