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EUR/USD: (1.4895) Drop from new recovery high retested 1.4845

KBC Market Research Desk from KBC Bank at 10/27/09

 



Drop from new recovery high retested 1.4845 and the inverted broken daily channel top off June low (1.4867 today).
Support area at 1.4845 (reaction low off 1.5064 + previous reaction high)), with next levels at 1.4829 (see graph), ahead of 1.4819/ .4812 (daily Bollinger midline/daily envelope bottom), where pause favored; If wrong, next levels at 1.4756/ .4753 (daily Medium Term Moving Average↑/ 23.6% 1.3748 to 1.5064): tough on 1st attempts.
Resistance at 1.4945/ .4964 (daily envelope top/ breakdown hourly), with next levels at 1.5013 (idem), ahead of 1.5064 (new recovery high off 2008 low), where pause favored.
If wrong, next level at 1.5114 (daily Bollinger top), ahead of 1.5151/ .5164 (weekly envelope top/ 76.4% 1.6040 to 1.2331): tough on 1st attempts.

USD/JPY: (92.11) Above 90.42 and in Flag off 88.01

EUR/GBP: (.9116) Back below .9160

EUR/JPY: (137.24) Below channel off 129.58

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