Needle Points South *RES 4:.......>

EURO-DOLLAR TECHS: Needle Points South

*RES 4: 1.1039/53 High Apr 1 / High Mar 31

*RES 3: 1.0991 High Apr 15 and the bull trigger

*RES 2: 1.0897 High Apr 20

*RES 1: 1.0847 High Apr 23

*PRICE: 1.0770 @ 05:53 BST Apr 24

*SUP 1: 1.0756 Low Apr 23

*SUP 2: 1.0723 Low Mar 24

*SUP 3: 1.0690 0.764 projection of Mar 30 - Apr 6 sell-off from Apr 15 high

*SUP 4: 1.0636 Low Mar 23 and key support

EURUSD traded lower again Thursday probing support at 1.0769, Apr 7 low. A

bearish outlook follows the pullback off 1.0991 on Apr 15 and an inability to

convincingly clear 1.0987, Apr 14 high. This brought to an end the recovery

phase between Apr 6 - 15. Attention is on and extension of yesterday's move

lower with the focus on 1.0636, Mar 23 low. On the upside, a break of resistance

at 1.0897, Apr 20 high is required to shift the outlook.