Market Data 
Markets
Replies to post #13737 on Mostly: Classical
07/14/05 1:56 PM
NEW YORK, July 14 (Reuters) - Following is a selection of
comments from analysts on important technical developments in
the foreign exchange market:
CSFB TECHNICAL ANALYSIS TEAM:
EURO/YEN: "The June/July showed initial signs of rejecting
the 136.20/75 yen target (last reaction high and medium term
61.8 percent). We expect a downturn off these two resistance
levels. A close below 134.65 yen and the rising 13-day moving
average at 134.15 yen could be a negative development to
refocus on the downside for 132.60 yen then the 130.75/60 yen
lows. A decisive break above 136.75 yen could extend to test
the 138.00/10 yen gap resistance."
DOLLAR/SWISS: "Near-term resistance is pegged at 1.2935/45
francs (short term 61.8 percent), ahead of 1.3020 francs and
the 1.3075 francs high. An unexpected break up could extend
toward last year's high at 1.3225 francs. We favor more
sideways price actions within a 1.27-1.3075 francs range, with
an eventual breakdown. Key support remains at mid-June low at
1.2565/45 francs and the medium term 38.2 percent support (of
the 1.1290-1.3075 francs seven month range) at 1.2390 francs."
ANDREW CHAVERIAT, SENIOR TECHNICAL ANALYST AT BNP PARIBAS,
NEW YORK:
EURO/DOLLAR: "Erratic trading today - a sideways, "flat
stage" following the sharp rise Monday-Tuesday, hefty decline
Wednesday. Market is respecting strong short term support at
$1.2045/65. This could be the base that underpins a rise back
towards $1.22 plus tomorrow and into early next week.
Especially if we post an unchanged today near $1.2085 or above
- which would suggest selling pressure has been exhausted with
the next move higher. Seen consolidating its Monday-Tuesday
rise targeting a decline between $1.2065-45 and potentially
$1.2000-$1.1950 before buying resumes. Favor $1.2350 as a
target for the next few days. Buy at $1.2070, $1.2035 stop,
targeting $1.2200."
DOLLAR/YEN: "The hourly pattern is not very clear. The
sharp Mon-Tues decline was largely reversed (80 percent of it)
via Wed's surge. If a daily rise occurs today, we'd have 2
sharp down days followed by 2 up days suggesting either (a)
more distribution in the 112.25-50/60 yen area before falling
towards 110.75/40 yen or (b) a corrective pause before resuming
the summer rally. Short term bullish continuation at 112.30
yen: A break above 112.30 yen and certainly 112.60 yen would
imply the quick shakeout to 110.75 yen Tueday is complete, and
that we're off towards 113.00/35/75 yen."
Currency bid prices at 17:30 GMT. All data taken from Reuters
calculated from the levels at 4:30 p.m. (20:30 GMT) in the
previous New York session.
Last US Close % YTD 2004
13 July Change %Change Close
-------------------------------------------------------------
Euro/dlr <EUR=> 1.2083 1.2093 -0.08 -10.88 1.3558
Dlr/yen <JPY=> 112.24 111.84 +0.36 +9.56 102.45
Euro/yen <EURJPY=> 135.69 135.27 +0.31 -2.30 138.88
Dlr/swiss <CHF=> 1.2908 1.2886 +0.17 +13.43 1.1380
Stg/dlr <GBP=> 1.7567 1.7639 -0.41 -8.43 1.9184
Dlr/cad <CAD=> 1.2094 1.2075 +0.16 +0.55 1.2028
Aus/dlr <AUD=> 0.7508 0.7499 +0.12 -3.98 0.7819
Euro/swiss <EURCHF=> 1.5594 1.5584 +0.06 +0.83 1.5466
Euro/stg <EURGBP=> 0.6877 0.6854 +0.34 -2.72 0.7069
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