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EUR/USD: (1.4533) Drop from 1.5145 puts pair below 1.4800 and 1.4625

KBC Market Research Desk from KBC Bank at 12/16/09

 


Drop from new year high puts the pair below daily Uptrendline off June low (1.4683 today), with Double Tops off 1.4800 and 1.4626 (see graph).
Support area at 1.4503/ .4495 (current week low/ daily Bollinger bottom), with next levels at 1.4480 (Oct low + 23.6% 2008 low to 1.5145) and 1.4455/ .4446 (daily envelope bottom + 2nd target off 1.4800/ 50% June low to 1.5145): tough on 1st tests.
Resistance at 1.4592/ .4614 (daily Downtrendline off year high + daily envelope top/ daily Short Term Moving Average↓), with next levels at 1.4631 (breakdown hourly), ahead of 1.4683/ .4686 (see above/ current week high), where pause favored.
If wrong, next levels at 1.4752/ .4770 (breakdown hourly/ weekly envelope top): tough on 1st attempts.

USD/JPY: (89.53) Approaching Downtrendline off 92.33

EUR/GBP: (.8947) In Flag off .9154

EUR/JPY: (130.19) Drop from 134.54 retested the broken daily channel top off 138.49

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