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EUR/USD: (1.3475) New reaction low on Fed's move

KBC Market Research Desk from KBC Bank at 02/19/10


New reaction low on Fed’s move and pair currently back below the daily channel off 1.5142 (bottom at 1.3603 today): Support area at 1.3453/ .3443 (daily envelope bottom/ today’s +new reaction low?), with next levels at 1.3417/ .3405 (daily Bollinger bottom/ 61.8% 2008 low to 1.5145), where pause favored.
If wrong, next levels at 1.3382/ .3373 (redrawn daily channel bottom off 1.5142/ 2nd target of daily Flag break off 1.4218), ahead of 1.3362 (weekly envelope bottom) and 1.3323 (daily Starc bottom): tough on 1st attempts. Resistance at 1.3591/ .3609 (daily Short Term Moving Average↓/ daily envelope top), with next levels at 1.3673/ .3687 (daily Medium Term Moving Average↓/ breakdown hourly), where pause favored.
If wrong, next level at 1.3789 (current week high + daily Bollinger midline + daily Stop And Reverse): tough on 1st attempts.

USD/JPY: (91.77) Currently above 91.28

EUR/GBP: (.8740) Failed to extend above .8796 and below Flag off .8603

EUR/JPY: (123.73) Failed to extend above 124.28

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