Rally Stalls Ahead Of Next........>

EURO-DOLLAR TECHS: Rally Stalls Ahead Of Next $1.2415-$1.2435 Target Zone

*RES 4: $1.2477 Mar 27 high

*RES 3: $1.2435 1% volatility band

*RES 2: $1.2415/22 76.4% of $1.2477-$1.2215, Mar 28 high

*RES 1: $1.2370/80 Hourly resistance, intraday high

*PRICE: $1.2342 @1027GMT 

*SUP 1: $1.2324 Hourly base Apr 10

*SUP 2: $1.2287/91 Apr 6 high, initial high Apr 9

*SUP 3: $1.2261 Apr 9 low

*SUP 4: $1.2215/24 Apr 6 low, 6 week bull channel base

*COMMENTARY* Monday saw a move above $1.2291-$1.2315, followed the next day by a

break of $1.2337-$1.2346 resistance. Wednesday, we again saw a rally, this time

through the 76.4% Fibo retrace level at $1.2377. A high of $1.2397 on the day,

perhaps the precursor to an assault on the stronger $1.2415-$1.2435 area.

Support moves up, $1.2324 initially, loss now would caution and suggest scope

for some deeper correction of gains from last Friday's $1.2215 base.