Above $1.2371 To Ease Bearish.....>

EURO-DOLLAR TECHS: Above $1.2371 To Ease Bearish Pressure

*RES 4: $1.2371 Low Mar 27 now resistance

*RES 3: $1.2344 High Apr 2

*RES 2: $1.2337 55-DMA

*RES 1: $1.2290 Hourly resistance Apr 4, High Apr 6

*PRICE: $1.2271 @ 0430GMT

*SUP 1: $1.2257 Hourly support Apr 6 

*SUP 2: $1.2209 Low Apr 6 

*SUP 3: $1.2153 Low Mar 1 

*SUP 4: $1.2092 High Jan 4 now support

*COMMENTARY: Dips below the bull channel base last week lacked follow through

with bears now looking for a close below $1.2209 to confirm initial focus on

$1.2092-1.2156 where the 100-DMA is noted. The Bollinger base is the key concern

for bears ($1.2216) and limits follow through. Bulls need a close above $1.2371

to gain breathing room and above $1.2477 to focus on $1.2555-1.2611 where the LT

bear channel top off 2008 highs is located.