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Pullback Approaches 8 Week Bull...>

EURO-DOLLAR TECHS: Pullback Approaches 8 Week Bull Channel Base
*RES 4: $1.2380 Congestion area Apr 18-19
*RES 3: $1.2353 Apr 20 high
*RES 2: $1.2336 Apr 17 low, now resistance
*RES 1: $1.2300/10 Hourly resistance
*PRICE: $1.2271 @0756GMT 
*SUP 1: $1.2240/50 8 week bull channel base, Apr 20 low
*SUP 2: $1.2215/19 Apr 6 low, 1% volatility band 
*SUP 3: $1.2155 Mar 1 low
*SUP 4: $1.2091/93 1.618 swing $1.2215-$1.2415, 50% Fibo, 2% 
*COMMENTARY* After failing to trouble $1.2415-$1.2422 resistance early last
week, there has been a gradual slide lower, initially toward $1.2310-$1.2291
support. The subsequent loss of the latter sees recent upside momentum take a
hit and allows some deeper correction of gains seen from the month's earlier
$1.2215 base, with the 8 week bull channel base at $1.2240 next in line. In the
meantime, resistance comes from $1.2300-$1.2353, above would assist.

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