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Heavy! *RES 4: 1.1163/67 High.....>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Heavy!
*RES 4: 1.1163/67 High Mar 30 / 61.8% retracement of the Mar 9 - 23 decline
*RES 3: 1.1053 High Mar 31
*RES 2: 1.1039 High Apr 1
*RES 1: 1.0991 High Apr 15
*PRICE: 1.0875 @ 05:43 BST Apr 16
*SUP 1: 1.0857 Low Apr 15
*SUP 2: 1.0830 Low Apr 8
*SUP 3: 1.0769 Low Apr 6 and key support
*SUP 4: 1.0761/60 Low Mar 25 / 76.4% retracement of the Mar 23 - 30 rally
EURUSD came under heavy pressure throughout yesterday's session, and remains
under pressure. The sell-off follows an inability to convincingly clear the
Tuesday 1.0987 high and potentially brings to an end the recovery phase between
Apr 6 - 15. The pair has traded lower overnight and is approaching yesterday's
low of 1.0857. A break would pave the way for a move towards 1.0769, Apr 6 low.
A break above 1.0991 is needed to offset the bearish threat.

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