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EUR/USD: (1.4355) Failed to extend above 1.4459

KBC Market Research Desk from KBC Bank at 01/06/10


Drop from last year high has met target of daily channel break off June low (1.4219) and puts the pair below the neckline of a daily Double Top off 1.4626, with 1st target at 1.4188 having been approached.
Support area at 1.4327/ .4318 (break-up hourly/daily envelope bottom), ahead of 1.4293 (see graph: Flag bottom), where pause favored.
If wrong, next level at 1.4257/ .4249 (current week low/ daily Fibonacci Fan Line off 2005 low), ahead of 1.4238/ .4218 (200 Day Moving Average↑/ reaction low off 1.5145): tough on 1st tests.
Resistance at 1.4411 (daily Bollinger midline), with next levels at 1.4432 (daily envelope top), ahead of 1.4485/ .4509 (current week high/ breakdown hourly), where pause favored.
If wrong, next levels at 1.4556/ .4572 (reaction high hourly/ 38.2% 1.5145 to 1.4218), ahead of 1.4594 (daily Starc top): tough on 1st attempts.

USD/JPY: (92.01) Below channel off 84.82

EUR/GBP: (.8993) Back above channel off .9154

EUR/JPY: (132.14) Currently back above 131.60

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