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EUR/USD: (1.4726) Drop from 1.5145 puts pair below 1.4800

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


Drop from new year high puts the pair back in the inverted daily channel off June low (bottom at 1.4641 today) and broke the daily Uptrendline off March low (1.5074 today): currently below 1.4800 (see graph) with daily Bollinger bottom at 1.4714.
Support area at 1.4665 (today’s low? + daily projection band bottom), with next levels at 1.4641 (see above) and 1.4626 (Nov 03 low + neckline daily Double Top), where pause favored.
If wrong, next level at ahead of 1.4611 (38.2% June low to 1.5145), ahead of 1.4599/ .4585 (daily Starc bottom/ daily envelope bottom): tough on 1st tests.
Resistance at 1.4743/ .4775 (daily envelope top/ breakdown hourly), with next levels at 1.4835 (daily Short Term Moving Average↓), ahead of 1.4864/ .4867 (reaction highs hourly), where pause favored.
If wrong, next levels at 1.4906 (current week high), ahead of 1.4934/ .4950 (daily Bollinger midline/ daily Medium Term Moving Average↓) and 1.5012 (weekly envelope top): tough on 1st attempts.

USD/JPY: (88.35) Still above channel top off 92.33

EUR/GBP: (.9054) In Flag off .9154

EUR/JPY: (130.09) Drop from 134.54 retested broken channel top off 138.49

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