Attention Switches To.............>

EURO-DOLLAR TECHS: Attention Switches To $1.2314-$1.2291 Support

*RES 4: $1.2461/81 76.4% of $1.2556-$1.2155, 1% vol band

*RES 3: $1.2446 Mar 7, Mar 8 highs

*RES 2: $1.2410/13 Congestion area Mar 7-Mar 8, Mar 14 high

*RES 1: $1.2384 Intraday high

*PRICE: $1.2344 @1443GMT 

*SUP 1: $1.2305/14 Congestion Mar 8-12, Mar 13 low

*SUP 2: $1.2291 Mar 12 low

*SUP 3: $1.2266/69 61.8% of $1.2155-$1.2446, Mar 5 low

*SUP 4: $1.2231 1% volatility band

*COMMENTARY* The failure to cope with $1.2410-$1.2413 resistance yesterday has

resulted in a fall below $1.2346-$1.2334 support today. This now leaves

$1.2314-$1.2291 as next support and protection against a return to the

$1.2269-$1.2266 area that provided a base last Friday. As a consequence, nearest

resistance dips to the day's $1.2384 high and will currently need back above

here, before the near term bear bias can be overturned.