Bears Target $1.2092-1.2161.......>

EURO-DOLLAR TECHS: Bears Target $1.2092-1.2161

*RES 4: $1.2384 High Mar 15

*RES 3: $1.2359 High Mar 19

*RES 2: $1.2332 Hourly support Mar 20 now resistance

*RES 1: $1.2291 55-DMA

*PRICE: $1.2262 @ 0530GMT

*SUP 1: $1.2237 Low Mar 20 

*SUP 2: $1.2201 Bollinger band base 

*SUP 3: $1.2161 Daily Bull channel base off Nov Low 

*SUP 4: $1.2153 Low Mar 1

*COMMENTARY: Failure to trouble the $1.2384-1.2446 resistance region leaves the

pair looking heavy. Bears focus on $1.2092-1.2161 where the bull channel base

off Nov lows and the Jan 4 swing high are located. The Bollinger base is the key

concern with potential to limit follow through. Layers of resistance are

building with bulls needing a close above the 55-DMA to gain breathing room and

above $1.2446 to target 1.2555-1.2639.