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EUR/USD: (1.4729) Drop from 1.5145 puts pair below 1.4800

KBC Market Research Desk from KBC Bank at 12/11/09


Next report should be on Dec 15

Drop from new year high puts the pair back in the inverted daily channel off June low (bottom at 1.4654 today) and broke the daily Uptrendline off March low: currently below 1.4800 (see graph).
Support area at 1.4708/ .4693 (reaction lows hourly), with next levels at 1.4665/ .4654 (current week low + daily Bollinger bottom/ see above), ahead of 1.4626 (Nov 03 low + neckline daily Double Top) an d1.4622/ .4611 (daily envelope bottom/ 38.2% June low to 1.5145): tough on 1st tests.
Resistance at 1.4742 (daily Short Term Moving Average↓), with next levels at 1.4783 (daily envelope top + reaction high hourly), ahead of 1.4848/ .4864 (38.2% 1.5145 to 1.4665/ reaction high hourly), where pause favored.
If wrong, next levels at 1.4889 (daily Long Term Moving Average↓), ahead of 1.4913/ .4918 (daily Medium Term Moving Average↓/ daily Bollinger midline): tough on 1st attempts.

USD/JPY: (88.80) Currently back above channel top off 92.33

EUR/GBP: (.9026) In Flag off .9154

EUR/JPY: (130.97) Drop from 134.54

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