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EUR/USD: (1.3706) Retesting channel top off 1.4580

KBC Market Research Desk from KBC Bank at 02/09/10


Rebound off 1.3585 retesting the channel top off 1.4580 (see graph), with pair below the daily channel bottom off 1.5142 (1.3772 today),: Support area at 1.3643 (reaction low hourly), with next levels at 1.3621 (current week low), ahead of 1.3585/ .3581 (current reaction low off 1.5145/ long term break-up on monthly charts), where pause favored, amid overextended readings.
If wrong, next level at 1.3534/ .3529 (daily Bollinger bottom + daily envelope bottom/ daily Starc bottom), ahead of 1.3504 (monthly envelope bottom): tough on 1st attempts.
Resistance at 1.3718/ .3729 (current week high/ daily Short Term Moving Average↓), with next levels at 1.3749 (weekly envelope top), ahead of 1.3749 (weekly envelope top) and 1.3772 (see above), where pause favored.

USD/JPY: (89.40) Currently back above channel off 93.78

EUR/GBP: (.8774) Retested .8796 and in Flag off .8603

EUR/JPY: (122.53) New reaction low on move below 127.32

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