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EUR/USD: (1.4845) In channel off 1.3832

KBC Market Research Desk from KBC Bank at 11/05/09


Drop from new recovery high puts the pair back in channel off 1.3832, with rebound off 1.4626 having retested the inverted daily channel top off June low (1.4917 today) and putting the pair currently back above the daily Uptrendline off March low (1.4754 today).
Support area at 1.4801 (break-up hourly), with next levels at 1.4779/ .4774 (daily Long + Short Term Moving Averages↑/ daily envelope bottom), ahead of 1.4739 (reaction high hourly) and 1.4698 (break-up hourly), where pause favored.
If wrong, next levels at 1.4658 (daily Bollinger bottom), ahead of 1.4626/ .4624 (current reaction low off 1.5064/ weekly envelope bottom): tough on 1st attempts.
Resistance at 1.4910/ .4917 (current week high/ see above), with next levels at 1.4928 (reaction low hourly) and 1.4952/ .4964 (daily envelope top/ medium term breakdown hourly), where pause favored.
If wrong, next levels at 1.4985 (breakdown daily), ahead of 1.5064 (recovery high off 2008 low + daily Bollinger top): tough on 1st attempts.

USD/JPY: (90.46) Below Flag bottom off 88.01

EUR/GBP: (.8988) Below .9160 and .9078

EUR/JPY: (134.31) Drop from 138.49 retested broken channel top

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