TECHNICALS-Forex market views and key levels
NEW YORK, April 22 (Reuters) - Following is a selection of
comments from analysts on important technical developments in
the foreign exchange market:
ANDREW CHAVERIAT, FOREIGN EXCHANGE TECHNICAL ANALYST, BNP
PARIBAS, NEW YORK:
EURO/DOLLAR: "Short term: since cable (sterling/dollar) is
leading euro/dollar moves, it should show the way for
euro/dollar. Favor euro/dollar forming a secondary high today
(...at/below yesterday's $1.3125 high)."
PAUL D. MENDELSOHN, CHIEF INVESTMENT STRATEGIST, WINDHAM
FINANCIAL SERVICES, INC. CHARLOTTE, VERMONT:
DOLLAR INDEX: "There is a three-year downtrend line sitting
around 83.78."
"If we can cross above the 85.45 level; above the 200-day
moving average and above the 3-year downtrend line, that would
give me a buy signal,"
"The dollar index has hit a double bottom, between the 1995
low and 80.39 on the last trading day of 2004: that would be
critical support...and is now consolidating."
Currency bid prices at 1:59 p.m. EDT (1759 GMT). All data taken
from Reuters calculated from the levels at 4:30 p.m. EDT (2030
GMT) in the previous New York session.
Last US Close % YTD 2004
21 April Change %Change Close
-------------------------------------------------------------
Euro/dlr <EUR=> 1.3048 1.3052 -0.03 -3.76 1.3558
Dlr/yen <JPY=> 105.90 106.86 -0.90 +3.37 102.45
Euro/yen <EURJPY=> 138.22 139.56 -0.96 -0.48 138.88
Dlr/swiss <CHF=> 1.1837 1.1822 +0.13 +4.02 1.1380
Stg/dlr <GBP=> 1.9132 1.9086 +0.24 -0.27 1.9184
Dlr/cad <CAD=> 1.2353 1.2390 -0.30 +2.70 1.2028
Aus/dlr <AUD=> 0.7812 0.7763 +0.63 -0.09 0.7819
Euro/swiss <EURCHF=> 1.5449 1.5438 +0.07 -0.11 1.5466
Euro/stg <EURGBP=> 0.6817 0.6836 -0.28 -3.56 0.7069
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