Replies to post #13172 on Mostly: Classical

[Frank Pembleton]

TECHNICALS-Forex market views and key levels

 
  
  
  
     NEW YORK, April 14 (Reuters) - Following is a selection of  
 comments from analysts on important technical developments in  
 the foreign exchange market:  
  
     PAUL JACKSON, SENIOR FOREIGN EXCHANGE DEALER, CMC GROUP:  
     OVERVIEW: "The dollar continues to find support on the  
 upside despite yesterday's worse than expected US retail sales  
 figures. The market largely shrugged off this news and either  
 the TIC data or the Michigan sentiment figures, both scheduled  
 for release tomorrow - could offer further direction, right now  
 the fact that US interest rates seem to be one of the few where  
 we're seeing any growth should maintain much of the greenback's  
 popularity.  
     STERLING/DOLLAR - "Cable is now toying with yesterday's  
 lows around $1.8860-65 and this will provide the first line of  
 support. A move through here paves the way for $1.8810-25,  
 followed by $1.8760 and then the recent low around $1.8670.  
 However, the topside looks relatively tight with $1.8920-40  
 continuing to act as a sticking point and any move beyond here  
 is likely to meet with further resistance at yesterday's high  
 around $1.8950 then $1.8980."  
     EURO/DOLLAR - "is also looking vulnerable with slow euro  
 zone growth drawing much attention, Look for resistance near  
 yesterday's high around $1.2960 then the weekly high near  
 $1.3015, whilst on the downside resistance is now being tested  
 at $1.2840. If this falls, look for a subsequent move down to  
 $1.2800 then $1.2790."  
  
     BNP PARIBAS FOREIGN EXCHANGE DAILY STRATEGIST:  
     DOLLAR/YEN - "Dollar/yen has rebounded from the 107.20 yen  
 trend support, but it needs to overcome yesterday's 108.45 yen  
 high to call for a break above 108.80 yen."  
     EURO/DOLLAR - "Technical support between $1.2860/$1.2800  
 will be difficult to break."  
     AUSTRALIAN DOLLAR/U.S. DOLLAR - "We would see surges above  
 $0.78 as favourable sell levels for the Australian dollar."  
     NEW ZEALAND DOLLAR/U.S. DOLLAR - "We would sell (the pair)  
 above $0.7250",  
  
 Currency bid prices at 1305 GMT. All data taken from Reuters  
 calculated from the levels at 2030 GMT in the  
 previous New York session.  
  
                       Last  US Close    %      YTD     2004  
                             13 April  Change %Change    Close  
 -------------------------------------------------------------  
 Euro/dlr   <EUR=>    1.2814   1.2916   -0.79   -5.49   1.3558  
 Dlr/yen    <JPY=>    108.17   107.29   +0.82   +5.58   102.45  
 Euro/yen   <EURJPY=> 138.61   138.58   +0.02   -0.19   138.88  
 Dlr/swiss  <CHF=>    1.2134   1.1996   +1.15   +6.63   1.1380  
 Stg/dlr    <GBP=>    1.8818   1.8941   -0.65   -1.91   1.9184  
 Dlr/cad    <CAD=>    1.2428   1.2377   +0.41   +3.33   1.2028  
 Aus/dlr    <AUD=>    0.7725   0.7776   -0.66   -1.20   0.7819  
 Euro/swiss <EURCHF=> 1.5547   1.5491   +0.36   +0.52   1.5466  
 Euro/stg   <EURGBP=> 0.6809   0.6817   -0.12   -3.68   0.7069