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Initial Focus On $1.2212-1.2240...>

EURO-DOLLAR TECHS
EURO-DOLLAR TECHS: Initial Focus On $1.2212-1.2240
*RES 4: $1.2477 High Mar 27
*RES 3: $1.2433 Hourly support Mar 26 now resistance
*RES 2: $1.2371 Low Mar 27 now resistance
*RES 1: $1.2335 Hourly support Mar 28 now resistance
*PRICE: $1.2324 @ 2100GMT
*SUP 1: $1.2285 Low Mar 22 
*SUP 2: $1.2240 Low Mar 20 
*SUP 3: $1.2212 Daily Bull channel base off Nov Low 
*SUP 4: $1.2153 Low Mar 1
*COMMENTARY: Failure to capitalise on gains was a concern for bulls and left the
pair looking offered with immediate focus back on $1.2212-1.2240 where the bull
channel base is noted. Layers of resistance accumulating add weight to the
bearish case. Bulls need a close above $1.2371 to gain breathing room and above
$1.2477 to retain focus on $1.2555-1.2625 where the LT bear channel top off 2008
highs is located.

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