LONDON, July 4 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
BEHAVIOURAL ANALYSIS TEAM, DEUTSCHE BANK
* EURO/DOLLAR: "Our current objective remains a move to new lows, that is, below $0.8410. The narrow consolidation near the year's low is not a good sign for the euro. The nearby support situation is very poor. We doubt that a falling euro will attract fresh bidders in the same way that it was able to one year ago. The only anchor point that euro-optimists seem to have at the moment is the old low -- this is why the current bulls refuse to sell. So additional demand will only re-emerge when the euro nears its historical low ($0.8225). Thus a renewed slide could extend all the way to $0.8285 before finding a temporary floor."