Below $1.2241 Initially Targets...>

EURO-DOLLAR TECHS: Below $1.2241 Initially Targets $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: $1.2287 Hourly resistance Mar 20

*PRICE: $1.2246 @ 2000GMT

*SUP 1: $1.2241 High Feb 28 now support 

*SUP 2: $1.2210 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 and pressuring $1.2241. Bears need a close below this level

to sift initial focus back to $1.2092-1.2161 where the bull channel base off Nov

lows is located. The Bollinger base is the key concern with potential to limit

follow through although narrowing Bollis suggest a break out soon. Bulls need a

close above $1.2446 to $1.2555-1.2639.