Bulls Need Close Above $1.2144....>

EURO-DOLLAR TECHS: Bulls Need Close Above $1.2144

*RES 4: $1.2312 Hourly support Apr 20 now resistance

*RES 3: $1.2248 Low Apr 20 now resistance

*RES 2: $1.2222 100-DMA

*RES 1: $1.2144 Hourly support Apr 26 now resistance

*PRICE: $1.2124 @ 0430GMT

*SUP 1: $1.2053 Low Apr 27 

*SUP 2: $1.2024 Daily Bear channel base 

*SUP 3: $1.2011 200-DMA 

*SUP 4: $1.1914 2018 Low Jan 19

*COMMENTARY: The lack of follow through on the break of the $1.2092 weekly

support resulted in a bounce back towards initial resistance Friday. O/S daily

studies are seen as a key concern for bears. Bulls continue to look for a close

above $1.2144 to gain breathing room and above the 55-DMA ($1.2313) to shift

focus back to $1.2392-1.2476 where the bear channel top is noted. While $1.2144

caps bears look for a close below the 200-DMA initially target $1.1914.