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EURUSD: Strong Bounce Signals.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: EURUSD: Strong Bounce Signals Reversal
*RES 4: 1.1390 76.4% retracement of the Mar 9 - Mar 12 sell-off
*RES 3: 1.1333 High Mar 12
*RES 2: 1.1272 50.0% retracement of the Mar 9 - Mar 16 sell-off
*RES 1: 1.1237 High Mar 16
*PRICE: 1.1180 @ 05:43 GMT Mar 17
*SUP 1: 1.1048 Low Mar 16
*SUP 2: 1.1003 Low Mar 2
*SUP 3: 1.0951 Low Feb 28
*SUP 4: 1.0947 76.4% retracement of the Feb 20 - Mar 9 rally
EURUSD experienced a sharp rally yesterday. The move is significant from a
technical perspective in that it marks a strong rebound off a key area of
support. 1.1070 marks the 50-day EMA and 1.1052 is the 61.8% retracement of the
rally between Feb 20 and Mar 9. Yesterday's strong close is also significant, it
reinforces the potential importance of yesterday's bounce. Key support has been
defined at 1.1048. The focus is on a climb towards 1.1333, Mar 12 high.

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