LONDON, June 22 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
GERRY CELAYA, TECHNICAL ANALYST AT REDTOWER RESEARCH
* EURO/DOLLAR: "For the euro/dollar, the downside risk remains quite high. $0.8530 offering some support just now, with $0.85 the key for $0.8470 and potentially much lower. Technically it's tough to ignore the bear trend, but on the charts an argument for bounces from the $0.8500/8470 zone can be made, should be followed by gains through $0.8600. Break above $0.8580/8600 will open the way up for euro bulls to forge towards $0.8680 and then higher."