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EUR/USD: (1.3706) Still above channel off 1.4580

KBC Market Research Desk from KBC Bank at 02/05/10


Move back in the channel off 1.4580 sent the pair to a new reaction low , below the daily channel bottom off 1.5142 (1.3808 today),: Support area at 1.3669/ .3668 (current reaction low off 1.5145/ daily envelope bottom), ahead of 1.3653 (Equality C wave off 1.4580), where pause favored, amid overextended readings.
If wrong, next level at 1.3626/ .3611 (daily Bollinger bottom/ daily Starc bottom), ahead of 1.3581/ .3504 (long term break-up on monthly charts/ monthly envelope bottom): tough on 1st attempts.
Resistance at 1.3793/ .3808 (daily envelope top/ see above), with next levels at 1.3844/ .3857 (daily Short Term Moving Average↓/ reaction high hourly), where pause favored.
If wrong, next levels at 1.3884 (23.6%1.4580 to 1.3669), ahead of 1.3971 (daily Short Term Moving Average↓): tough on 1st attempts.

USD/JPY: (89.57) Toying back with channel top off 93.78

EUR/GBP: (.8720) Tried to extend below .8710

EUR/JPY: (122.75) Below 127.32

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