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EUR/USD: (1.4792) In channel off 1.3832

KBC Market Research Desk from KBC Bank at 11/03/09


Drop from new recovery high puts the pair back in channel off 1.3832 and in the inverted daily channel off June low (top at 1.4900 today), with daily Uptrendline off March low having been tested (1.4742 today).
Support area at 1.4762/ .4742 (broken daily Short Term Moving Average↓/ see above), with next levels at 1.4725 (reaction low hourly) and 1.4681 (current reaction low off 1.5064 + daily envelope bottom), where pause favored.
If wrong, next levels at 1.4641/ .4624 (daily Bollinger bottom/ weekly envelope bottom + daily projection band bottom): tough on 1st attempts.
Resistance at 1.4846 (current week high + daily envelope top), with next levels at 1.4860/ .4872 (reaction high hourly/ 50% 1.5064 to 1.4681 + daily Medium Term Moving Average↓), ahead of 1.4901 (weekly envelope top), where pause favored.
1.5064 = recovery high off 2008 low + daily Bollinger top: tough on 1st attempts.

USD/JPY: (90.26) Below Flag bottom off 88.01

EUR/GBP: (.9030) Below .9160 and .9078

EUR/JPY: (133.50) Drop from 138.49 retested broken channel top

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