Pullback Has Contretemps With.....>

EURO-DOLLAR TECHS: Pullback Has Contretemps With $1.2215 Support

*RES 4: $1.2365 Hourly congestion lows Apr 17-19

*RES 3: $1.2336 Apr 17 low, now resistance

*RES 2: $1.2312 Hourly recovery high Apr 20

*RES 1: $1.2270/90 Hourly resistance, intraday high

*PRICE: $1.2217 @1645GMT 

*SUP 1: $1.2211/13 Intraday low, 1% volatility band 

*SUP 2: $1.2153/55 Equality fall from $1.2415, Mar 1 low

*SUP 3: $1.2091/93 1.618 swing $1.2215-$1.2415, 2%, Sep 8 hi

*SUP 4: $1.2055 50% Fibo of $1.1554-$1.2556

*COMMENTARY* Recent upside momentum took a hit last week with the loss of

$1.2291 support and this has been exacerbated by today's move below the 8 week

bull channel base at $1.2240. This naturally saw $1.2215 as next in line, a

previous low from Apr 6 and the lower 1% volatility band. Still trying to break

clear of this area, $1.2155-$1.2153 then below. In the meantime, resistance

comes from $1.2270-$1.2290, above would assist.