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EUR/USD: (1.4880) In channel off 1.3832

KBC Market Research Desk from KBC Bank at 11/06/09


Next reoprt should be on Nov 17

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 (1.4928 today) and putting the pair currently back above the daily Uptrendline off March low (1.4771 today).
Support area at 1.4851/ .4844 (broken daily Medium Term Moving Average↓/ reaction low hourly), with next levels at 1.4801 (break-up hourly + daily envelope bottom), ahead of 1.4786 (daily Long Term Moving Average↑), where pause favored.
If wrong, next levels at 1.4739 (reaction low hourly), ahead of 1.4698/ .4676 (break-up hourly/ daily Bollinger bottom): tough on 1st attempts.
Resistance at 1.4918/ .4928 (current week high/ see above + reaction high hourly), with next levels at1.4960/ .4964 (76.4% 1.5064 to 1.4626/ daily envelope top + medium term breakdown hourly), where pause favored. If wrong, next levels at 1.4985 (breakdown daily), ahead of 1.5064/ .5071 (recovery high off 2008 low + daily Bollinger top/ monthly envelope top): tough on 1st attempts.

USD/JPY: (90.66) Below Flag bottom off 88.01

EUR/GBP: (.8954) Below .9160 and .9078

EUR/JPY: (134.90) Drop from 138.49 retested broken channel top

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