$1.2365 Still The Bar To..........>

EURO-DOLLAR TECHS: $1.2365 Still The Bar To Further Progress

*RES 4: $1.2433 Underside broken bull channel base

*RES 3: $1.2413/24 1% vol band, swing of $1.2365-$1.2269

*RES 2: $1.2403 61.8% Fibo of $1.2556-$1.2155

*RES 1: $1.2365 Mar 2 high

*PRICE: $1.2342 @0855GMT 

*SUP 1: $1.2290 Hourly support

*SUP 2: $1.2252/69 Mar 2, Mar 5 lows

*SUP 3: $1.2205 Hourly congestion Feb 28-Mar 1

*SUP 4: $1.2155/65 Mar 1 low, 1% volatility band

*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 $1.2365. Back through here would allow a

move up to the next area of note, at $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,

$1.2290 and then $1.2269-$1.2252 now provide support.