EUR/USD: (1.3637) New reaction low in channel off 1.4580

KBC Market Research Desk from KBC Bank at 02/08/10

Move back in the channel off 1.4580 sent the pair to a new reaction low, below the daily channel bottom off 1.5142 (1.3790 today) and has reapproached monthly break-up area of 1.3581,: Support area at 1.3621 (today‘s low?), with next levels ay 1.3585/ .3581 (current reaction low off 1.5145 + daily envelope bottom/ see above), where pause favored, amid overextended readings.
If wrong, next level at 1.3560 (daily Bollinger bottom + daily Starc bottom), ahead of 1.3504 (monthly envelope bottom): tough on 1st attempts.
Resistance at 1.3669/ .3680 (today’s high?/ reaction high hourly), with next levels at 1.3715 (daily envelope top), ahead of 1.3749 (weekly envelope top) and 1.3778/ .3790 (daily Short Term Moving Average↓/ see above), where pause favored.

USD/JPY: (89.37) Currently back in channel off 93.78

EUR/GBP: (.8748) Failed to extend below .8710

EUR/JPY: (121.83) New reaction low on move below 127.32