Bears Need Close Below $1.2340....>

EURO-DOLLAR TECHS: Bears Need Close Below $1.2340

*RES 4: $1.2639 Weekly Bear channel top

*RES 3: $1.2555 2018 High Feb 16

*RES 2: $1.2475 Bollinger band top

*RES 1: $1.2446 High Mar 8

*PRICE: $1.2378 @ 0210GMT

*SUP 1: $1.2340 Hourly support Mar 13a 

*SUP 2: $1.2313 Low Mar 13 

*SUP 3: $1.2273 55-DMA 

*SUP 4: $1.2271 Low Mar 9

*COMMENTARY: The pair stalled on approach to the weekly bear channel top

($1.2639) off 2008 highs in past weeks. Bulls take comfort in support emerging

on dips back towards the 55-DMA with the closes above $1.2364 shifting initial

focus to $1.2446 and bulls needing a close above to reconfirm focus on

$1.2555-1.2639 where 2018 highs and the LT bear channel top are situated. Bears

need a close below $1.2340 to see focus back on the 55-DMA.