Below 55-DMA To Target............>

EURO-DOLLAR TECHS: Below 55-DMA To Target $1.2092-1.2153

*RES 4: $1.2446 High Mar 8

*RES 3: $1.2438 Bollinger band top

*RES 2: $1.2414 High Mar 14

*RES 1: $1.2348 Hourly resistance Mar 15

*PRICE: $1.2310 @ 0530GMT

*SUP 1: $1.2277 55-DMA 

*SUP 2: $1.2211 Bollinger band base 

*SUP 3: $1.2153 Low Mar 1 

*SUP 4: $1.2092 High Jan 4 now support

*COMMENTARY: Bulls failed to challenge the key $1.2446 resistance with the pair

looking heavy having broken back below $1.2340 and focus returned to the 55-DMA.

Bears continue to look for a close below the 55-DMA to target the key

$1.2092-1.2153 support region. Daily studies are well placed for a fresh leg

lower. Bulls now need a close above $1.2348 to gain breathing room and above

$1.2446 to target $1.2555-1.2639.