Late Sell Off *RES 4: 1.1163/67...>

EURO-DOLLAR TECHS: Late Sell Off

*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: 1.0842 @ 16:19 BST Apr 16

*SUP 1: 1.0835 Low Apr 16

*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 the Wednesday session and that

pressure re-emerged into the Thursday close. 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 made light work of the Wednesday

low and is narrowing the gap with 1.0769, the Apr 6 low. A break above 1.0991 is

needed to offset the bearish threat.