Under Pressure *RES 4:............>

EURO-DOLLAR TECHS: Under Pressure

*RES 4: 1.1163/67 High Mar 30 / 61.8% retracement of the Mar 9 - 23 decline

*RES 3: 1.1039/53 High Apr 1 / High Mar 31

*RES 2: 1.0991 High Apr 15 and the bull trigger

*RES 1: 1.0897 High Apr 20

*PRICE: 1.0784 @ 10:26 BST Apr 23

*SUP 1: 1.0769 Low Apr 6 and key support

*SUP 2: 1.0761/60 Low Mar 25 / 76.4% retracement of the Mar 23 - 30 rally

*SUP 3: 1.0723 Low Mar 24

*SUP 4: 1.0636 Low Mar 23 and key support

EURUSD traded lower yesterday to maintain a near-term bearish focus and is under

pressure again this morning. A bearish outlook follows the pullback off 1.0991

on Apr 15 and an inability to convincingly clear 1.0987, Apr 14 high. This

potentially brings to an end the recovery phase between Apr 6 - 15. Attention is

on 1.0769, Apr 6 low where a break would trigger a deeper slide towards 1.0636,

Mar 23 low. On the upside, initial resistance is at 1.0897, Apr 20 high.