Retraces Back To The 50-day EMA...>

EURO-DOLLAR TECHS: Retraces Back To The 50-day EMA

*RES 4: 1.1393 61.8% retracement of the Mar 9 - Mar 12 sell-off

*RES 3: 1.1333 High Mar 12

*RES 2: 1.1279 50.0% retracement of the Mar 9 - Mar 12 sell-off

*RES 1: 1.1228 38.2% retracement of the Mar 9 - Mar 12 sell-off

*PRICE: 1.1155 @ 17:02 GMT Mar 12

*SUP 1: 1.1056 Low Mar 12

*SUP 2: 1.1052 61.8% retracement of the Feb 20 - Mar 9 rally

*SUP 3: 1.1003 Low Mar 2

*SUP 4: 1.0947 76.4% retracement of the Feb 20 - Mar 9 rally

EURUSD has suffered sharp losses today. The pair has retraced to a key area of

support highlighted by the 50-day EMA at 1.1059 and the 61.8% retracement of the

rally between Feb 20 and Mar 9 at 1.1052. Thus far these levels have held,

however for now the outlook remains bearish. A break of 1.1052 would set the

scene for a deeper sell-off opening 1.1003, the Mar 2 low. Key resistance for

now is today's intraday high of 1.1333.