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EUR/USD: (1.5086) New year high in channel off 1.3832

KBC Market Research Desk from KBC Bank at 12/03/09


New year high scored and currently back above the inverted daily channel top off June low (1.5056 today), with the daily Uptrendline off March low at 1.5017.
Support area at 1.5040/ .5032 (daily Short Term Moving Average↑/ reaction low hourly), with next levels at 1.4992/ .4984 (daily Medium Term Moving Average↑/ daily envelope bottom), ahead of 1.4969/ .4965 (daily Bollinger midline/ current week low), where pause favored.
If wrong, next level at ahead of 1.4928/ .4912 (daily Long Term Moving Average↑/ break-up hourly) and 1.4895 (weekly envelope bottom): tough on 1st tests.
Resistance at 1.5118/ .5127 (current week high/ daily Bollinger top + daily envelope top), ahead of 1.5145 (year high), where pause favored.
If wrong, next levels at 1.5164/ .5168 (76.4% 1.6040 to 1.2331/ 1st Irregular B off 1.4626), ahead of 1.5183/ .5207 (weekly envelope top/ weekly Bollinger top): tough on 1st attempts.

USD/JPY: (87.86) Back in channel off 92.33

EUR/GBP: (.9043) Back below .9066

EUR/JPY: (132.54) Above channel off 138.49

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