Bears Need Close Below $1.2322....>

EURO-DOLLAR TECHS: Bears Need Close Below $1.2322

*RES 4: $1.2536 2018 High Jan 25

*RES 3: $1.2494 High Jan 26

*RES 2: $1.2475 High Jan 31

*RES 1: $1.2438 Hourly resistance Jan 31

*PRICE: $1.2421 @ 0530GMT

*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

needing a close above $1.2475 to reconfirm initial focus on 2018 highs and

overall focus on the weekly bear channel top ($1.2661). Bears look for a close

below $1.2322 to shift initial focus back to $1.2156-1.2225 where the 21-DMA

($1.2225) is noted.