Consolidating But Still Bearish...>

EURO-DOLLAR TECHS: Consolidating But Still Bearish

*RES 4: 1.1163/67 High Mar 30 / 61.8% retracement of the Mar 9 - 23 decline

*RES 3: 1.1039/53 High Apr 1 / High Mar 31

*RES 2: 1.0991 High Apr 15 and the bull trigger

*RES 1: 1.0911 High Apr 16

*PRICE: 1.0827 @ 16:41 BST Apr 22

*SUP 1: 1.0812 Low Apr 17 and intraday bear trigger

*SUP 2: 1.0769 Low Apr 6 and key support

*SUP 3: 1.0761/60 Low Mar 25 / 76.4% retracement of the Mar 23 - 30 rally

*SUP 4: 1.0723 Low Mar 24

EURUSD headed into the US close in minor negative territory. The near-term

outlook remains bearish. Last week's pullback, on Apr 15 and 16, follows an

inability to convincingly clear the 1.0987, Apr 14 high and potentially brings

to an end the recovery phase between Apr 6 - 15. The focus is on 1.0769, Apr 6

low where a break would trigger a deeper slide towards 1.0636, Mar 23 low.

1.0991 remains key resistance.