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EUR/USD: (1.4708) Drop from 1.5145 puts pair below 1.4800

KBC Market Research Desk from KBC Bank at 12/10/09


Drop from new year high puts the pair back in the inverted daily channel off June low (bottom at 1.4650 today) and broke the daily Uptrendline off March low: currently below 1.4800 (see graph) with daily Bollinger bottom at 1.4687.
Support area at 1.4687/ .4665 (see above/ current week low), with next levels at 1.4650 (see above) and 1.4626 (Nov 03 low + neckline daily Double Top), where pause favored.
If wrong, next level at ahead of 1.4611/ .4604 (38.2% June low to 1.5145/ daily envelope bottom+ daily projection band bottom): tough on 1st tests.
Resistance at 1.4762/ .4783 (daily envelope top + daily Short Term Moving Average↓/ reaction high hourly), with next levels at 1.4864/ .4867 (reaction highs hourly), where pause favored.
If wrong, next levels at 1.4893/ .4906 (daily Long Term Moving Average↓/ current week high), ahead of 1.4927/ .4930 (daily Bollinger midline/ daily Medium Term Moving Average↓): tough on 1st attempts.

USD/JPY: (87.83) Currently back above channel top off 92.33

EUR/GBP: (.9052) In Flag off .9154

EUR/JPY: (129.20) Drop from 134.54

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