Needle Still Points South *RES....>

EURO-DOLLAR TECHS: Needle Still 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: 1.0760 @ 10:17 BST Apr 24

*SUP 1: 1.0727 Intraday low

*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 is bearish having traded lower Thursday probing 1.0769, Apr 7 low and

extended the move earlier today. 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 between Apr 6 - 15. Attention is on further

weakness 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.