Bearish Focus *RES 4: 1.1163/67...>

EURO-DOLLAR TECHS: Bearish Focus

*RES 4: 1.1163/67 High Mar 30 / 61.8% retracement of the Mar 9 - 23 decline

*RES 3: 1.1039/53 High Apr 1 / High Mar 31

*RES 2: 1.0991 High Apr 15 and the bull trigger

*RES 1: 1.0911 High Apr 16

*PRICE: 1.0873 @ 05:32 BST Apr 17

*SUP 1: 1.0817 Low Apr 16

*SUP 2: 1.0830 Low Apr 8

*SUP 3: 1.0769 Low Apr 6 and key support

*SUP 4: 1.0761/60 Low Mar 25 / 76.4% retracement of the Mar 23 - 30 rally

EURUSD sold off again yesterday, extending the selling pressure that started

Wednesday. The sell-off follows an inability to convincingly clear the Tuesday

1.0987 high and potentially brings to an end the recovery phase between Apr 6 -

15. The pair made light work of the Wednesday low and is narrowing the gap with

1.0769, the Apr 6 low. A break above 1.0991 is needed to offset the developing

bearish threat.