Bears Need Close Below $1.2322....>

EURO-DOLLAR TECHS: Bears Need Close Below $1.2322

*RES 4: $1.2569 Monthly High Dec 16 2014

*RES 3: $1.2536 2018 High Jan 25

*RES 2: $1.2494 High Jan 26

*RES 1: $1.2475 High Jan 31

*PRICE: $1.2390 @ 2000GMT

*SUP 1: $1.2378 Hourly support Jan 30 

*SUP 2: $1.2322 High Jan 17 now support 

*SUP 3: $1.2270 Hourly support Jan 24 

*SUP 4: $1.2213 Low Jan 22

*COMMENTARY: The $1.2322 support confirmed significance with bulls taking

comfort in the bounce Tuesday. Topside follow through remains lacking with bulls

now needing a close above $1.2475 to reconfirm initial focus on retests of 2018

highs and overall focus on tests of the weekly bear channel top ($1.2661). Bears

look for a close below $1.2322 to shift initial focus back to $1.2092-1.2213

where the 21-DMA ($1.2205) is noted.