Sharp Bounce Needed *RES 3:.......>

EURO-DOLLAR TECHS: Sharp Bounce Needed

*RES 3: 1.1053 High Mar 31

*RES 2: 1.1039 High Apr 1

*RES 1: 1.0991 Intraday high

*PRICE: 1.0914 @ 16:29 BST Apr 15

*SUP 1: 1.0857 Low Apr 15

*SUP 2: 1.0830 Low Apr 8

*SUP 3: 1.0769 Low Apr 6 and key support

EURUSD came under heavy pressure throughout the Wednesday session, and remains

under pressure. The sell-off follows an inability to convincingly clear the

Tuesday 1.0987 high and potentially brings to an end the recovery phase between

Apr 6 - 15. A weak close Wednesday would further reinforce a bearish theme and

set the scene for a continued setback towards key support at 1.0769, Mar 6 low.

The pair needs to trade above 1.0991, to offset the developing bearish threat.

Heavy!