Consolidation Ends With Fresh.....>

EURO-DOLLAR TECHS: Consolidation Ends With Fresh Downside Push

*RES 4: $1.2463/77 1% volatility band, Mar 27 high

*RES 3: $1.2442/43 Hourly lows Mar 26-27, now resistance

*RES 2: $1.2410/22 Mar 28 hourly high, Mar 28 high

*RES 1: $1.2372 Mar 27 low, now resistance

*PRICE: $1.2290 @1635GMT 

*SUP 1: $1.2282/96 Intraday low, 76.4% of $1.2240-$1.2477

*SUP 2: $1.2231/40 76.4% Of $1.2155-$1.2477, Mar 20 low

*SUP 3: $1.2215 1% volatility band

*SUP 4: $1.2155 Mar 1 low

*COMMENTARY* Failure to make headway through the upper 1% volatility band last

Tuesday has had some severe near term repercussions. The latest fall beneath

$1.2317 has challenged the 76.4% Fibo retrace level at $1.2296 and the Mar 22

low, at the slightly lower $1.2286 level. Meanwhile, the nearest resistance of

note comes from $1.2372 and then Thursday's toppish $1.2410-$1.2422 area. Below

$1.2286 and $1.2240-$1.2231, shields the lower 1% volatility band.