EUR/USD: (1.4838) Drop from 1.5145 tested 1.4800

KBC Market Research Desk from KBC Bank at 12/08/09

Drop from new year high puts the pair back in the inverted daily channel off June low and broke the daily Uptrendline off March low (1.5061 today), with 1.4800 having been tested (see graph).
Support area at 1.4821 (today’s low?), with next levels at 1.4776/ .4756 (daily Bollinger bottom/ current week low + daily projection band bottom), where pause favored.
If wrong, next level at ahead of 1.4710 (daily envelope bottom + weekly projection band bottom): tough on 1st tests.
Resistance at 1.4871 (daily envelope top), with next levels at 1.4906/ .4923 (current week high/ daily Short Term Moving Average↓), where pause favored.
If wrong, next levels at 1.4953/ .4970 (daily Bollinger midline/ daily Medium Term Moving Average↓) and 1.5012 (weekly envelope top): tough on 1st attempts.

USD/JPY: (88.90) Above channel top off 92.33

EUR/GBP: (.9036) Back below .9066

EUR/JPY: (132.13) Above channel off 138.49