Recovery Enters Next Resistance...>

EURO-DOLLAR TECHS: Recovery Enters Next Resistance Phase From $1.2446-$1.2464

*RES 4: $1.2556 Feb 16 high

*RES 3: $1.2520 1.618 swing of $1.2413-$1.2240

*RES 2: $1.2461/64 76.4% Fibo of $1.2556-$1.2155, 1% vol band

*RES 1: $1.2446/53 Mar 7 high, 1.618 swing $1.2389-$1.2286

*PRICE: $1.2445 @1635GMT 

*SUP 1: $1.2385/89 Hourly support, Mar 22 high

*SUP 2: $1.2351 Hourly basing area Mar 23

*SUP 3: $1.2317 Mar 23 low

*SUP 4: $1.2286 Mar 22 low

*COMMENTARY* Has moved through the initial tricky area of resistance between

$1.2397-$1.2413 and now has to deal with $1.2446-$1.2464 higher. Not until a

sustained break above the latter is seen, will full upside potential be unlocked

for a run at $1.2520 and potentially the year's previous $1.2556 high. In the

meantime, initial support comes from between $1.2389-$1.2385, loss would caution

and suggest some further correction of gains from last Thursday's $1.2286 low.