(U18) 111.950 Loss Leaves..............>

SCHATZ TECHS: (U18) 111.950 Loss Leaves 111.910-111.880 At Risk

*RES 4: 112.110/120 38.2% of 112.420/111.910, May 31 high

*RES 3: 112.060 Jun 5, Jun 8 highs

*RES 2: 112.030 Hourly highs Jun 8-Jun 11

*RES 1: 111.980/990 Hourly resistance

*PRICE: 111.920 @0753GMT

*SUP 1: 111.910 May 23 high, Jun 7 low, 0.1% vol band

*SUP 2: 111.880/890 76.4% of 111.710-112.420, May 21 high

*SUP 3: 111.830 76.4% of 111.650-112.420, May 21 high

*SUP 4: 111.820 1.618 swing of 111.910-112.060

*COMMENTARY* The 111.960-111.940 support finally gave way last week, which saw

the focus switch to the congested 111.910-111.880 area. The fall was held at

111.910 on Thursday and as a consequence, became oversold in the near term. Back

above 111.960-111.970 assisted with recovery but once again the 112.060 region

has proved a tougher proposition higher. In the meantime, loss of 111.950

removes the protection against another move lower.