5 Week Falling Resistance Line....>

EURO-DOLLAR TECHS: 5 Week Falling Resistance Line Casts A Shadow

*RES 4: $1.2413 Mar 14 high

*RES 3: $1.2375/85 5 week falling res line, Mar 15 high

*RES 2: $1.2332/59 Initial base Mar 19, Mar 19 high

*RES 1: $1.2300/10 Hourly resistance

*PRICE: $1.2283 @0826GMT 

*SUP 1: $1.2240 Mar 20 low

*SUP 2: $1.2224 76.4% Fibo of $1.2155-$1.2446

*SUP 3: $1.2186/94 1.618 swing $1.2273-$1.2413, 1% vol band

*SUP 4: $1.2155 Mar 1 low

*COMMENTARY* Has continued to give up ground following last Wednesday's test to

the falling resistance line, $1.2413 at the time. This is at $1.2375 today and

is currently considered the main barrier to an upside revival and a fresh

$1.2413-$1.2446 challenge. In the meantime, there is earlier resistance from

between $1.2300-$1.2359. Tuesday's $1.2240 low protects against a deeper

$1.2224-$1.2186 fall, ahead of the month's previous $1.2155 low.