Replies to post #13085 on Mostly: Classical

[Frank Pembleton]

TECHNICALS-Forex market views and key levels

 
  
  
  
     NEW YORK, April 7 (Reuters) - Following is a selection of  
 comments from analysts on important technical developments in  
 the foreign exchange market:  
      
     TIM MAZANEC, INVESTORS BANK & TRUST:  
     EURO/DOLLAR - "Euro/dollar's daily trendline has acted as  
 support thus far, a close below $1.28 sets up a move to  
 $1.2350. Resistance expected at $1.2945 & $1.3115.  
 Euro/dollar's move lower has stalled as the 10-year rally in  
 yield has stalled as well."  
     STERLING/DOLLAR - "Correction lower has lost momentum,  
 trading back above $1.8850 expects a slowdown in the downward  
 move. Current oscillation expects $1.85 - $1.90."  
     DOLLAR/YEN - "Ready for a pause. Dollar/yen is trading  
 below its internal trendline on the hourly chart, thus upward  
 momentum looks to be stalling. Support remains at 106 yen.  
 Longer term, it is attempting to break above its downward  
 trendline on the monthly chart, which would end three years of  
 downward pressure."  
     AUSTRALIAN DOLLAR/U.S. DOLLAR - "Aussie is pressing its   
 channel bottom, a significant close below $0.7625 sets up a  
 move to $0.74 (weekly upward trendline)."  
      
     TECHNICAL ANALYSIS TEAM, UBS:  
     EURO/DOLLAR - "Despite the recovery off $1.2800, the euro  
 remains vulnerable while price action holds below $1.3055. The  
 focus is on weakness towards $1.2730 support marking the 2005  
 low thus far (Feb. 7). $1.2800 is support."  
     DOLLAR/SWISS FRANC - "Recent gains define 1.1885 (Swiss  
 franc) low, with 1.2085 break exposing pivotal 1.2264  
 resistance, the Feb. 7  high. The recent setback is viewed  
 corrective at this stage."  
     STERLING/DOLLAR - "$1.8713 break is required to trigger  
 fresh weakness towards $1.8596. On the topside, resistance lies  
 at $1.8966."  
     DOLLAR/YEN - "Positive above 107.65 yen with potential for  
 a climb towards the 109.85 yen 61.8 percent retracement. 108.88  
 yen marks the next upside trigger."  
     AUSTRALIAN DOLLAR/U.S. DOLLAR - The "$0.7669 break this  
 week sets the scene for a decline towards $0.7616 (Feb 8 low  
 and next key hurdle for Australian dollar bears). $0.7697  
 offers initial resistance ahead of $0.7776. The latter is seen  
 as the key short-term resistance."  
  
 Currency bid prices at 13:48 GMT. All data taken from Reuters  
 calculated from the levels at 20:30 GMT in the  
 previous New York session.  
  
                       Last  US Close    %      YTD     2004  
                             06 April  Change %Change    Close  
 -------------------------------------------------------------  
 Euro/dlr   <EUR=>    1.2921   1.2870   +0.40   -4.70   1.3558  
 Dlr/yen    <JPY=>    108.19   108.68   -0.45   +5.60   102.45  
 Euro/yen   <EURJPY=> 139.80   139.87   -0.05   +0.66   138.88  
 Dlr/swiss  <CHF=>    1.1989   1.2056   -0.56   +5.35   1.1380  
 Stg/dlr    <GBP=>    1.8786   1.8801   -0.08   -2.07   1.9184  
 Dlr/cad    <CAD=>    1.2201   1.2219   -0.15   +1.44   1.2028  
 Aus/dlr    <AUD=>    0.7696   0.7639   +0.75   -1.57   0.7819  
 Euro/swiss <EURCHF=> 1.5488   1.5519   -0.20   +0.14   1.5466  
 Euro/stg   <EURGBP=> 0.6877   0.6842   +0.51   -2.72   0.7069