(Z17) 112.030 Break Opens Scope For....>

SCHATZ TECHS: (Z17) 112.030 Break Opens Scope For Higher 112.060-112.080

*RES 4: 112.130 76.4% Fibo of 112.240-111.770

*RES 3: 112.080 0.1% volatility band

*RES 2: 112.060 61.8% Fibo of 112.240-111.770

*RES 1: 112.050 Mar 5 high

*PRICE: 111.980 @1433GMT

*SUP 1: 111.970 Hourly support

*SUP 2: 111.940 Feb 5 high, now support

*SUP 3: 111.920 Feb 27, Feb 28 lows

*SUP 4: 111.890 Congestion area early February

*COMMENTARY* The move back above 111.940-111.950 kick started higher corrective

potential. With the further rise through 112.000 last week, the next upside

objective became the swing target at 112.030, exceeded on the higher opening

Monday. This sees the 61.8% Fibo retrace level at 112.060 as the next resistance

of note, ahead of the 0.1% volatility band, at 112.080 by time today. Support

rises to 111.970, ahead of the previously mentioned 111.940.