Correction So Far Holds Above.....>

EURO-DOLLAR TECHS: Correction So Far Holds Above $1.2291-$1.2287 Support 

*RES 4: $1.2477 Mar 27 high

*RES 3: $1.2433 1% volatility band

*RES 2: $1.2415/22 76.4% of $1.2477-$1.2215, Mar 28 high

*RES 1: $1.2360/80 Hourly resistance, Apr 12 high

*PRICE: $1.2336 @0839GMT 

*SUP 1: $1.2287/91 Apr 6 high, initial high Apr 9

*SUP 2: $1.2261 Apr 9 low

*SUP 3: $1.2215/27 Apr 6 low, 6 week bull channel base

*SUP 4: $1.2187 1% volatility band

*COMMENTARY* The early part of the week saw the recovery continue, successive

new highs culminating a $1.2397 high on Wednesday. This left us shy of a look at

the stronger $1.2415-$1.2433 area. As a consequence, some overbought conditions

arose and have so far resulted in a move back towards $1.2291-$1.2287 support.

These and the slightly lower $1.2261 level protect against a deeper correction

of gains from last Friday's $1.2215 base. Resistance $1.2360-$1.2380.