(U18) Continued Fall Has 111.940.......>

SCHATZ TECHS: (U18) Continued Fall Has 111.940 Support Next

*RES 4: 112.150 Hourly base May 29, now resistance

*RES 3: 112.120 May 31 high

*RES 2: 112.060 Jun 5 high

*RES 1: 112.020/040 Hourly resistance 

*PRICE: 111.950 @1600GMT

*SUP 1: 111.940 May 28 low

*SUP 2: 111.910 May 23 high, now support

*SUP 3: 111.900 1.618 swing of 112.960-112.060

*SUP 4: 111.880/890 76.4% of 111.710-112.420, May 21 high

*COMMENTARY* The one that lost ground the quickest after last week's rise to

112.420, Friday's loss of the 61.8% Fibo level at 111.980, opening the potential

for a further 111.960-111.940 fall. Resistance meanwhile, comes from

112.020-112.040 and then more importantly from Tuesday's 112.060 high. Will need

back through here before any near term respite will be forthcoming. Below

111.940 and 111.910/111.900 protects key 111.890/111.880 area.