LONDON, July 6 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
KAREN JONES, TECHNICAL ANALYST AT COMMERZBANK
* EURO/DOLLAR: "The euro has slumped to new lows for the year. Losses are approaching the $0.8300 short-term downside target. With a daily RSI (relative strength index) down to 19 we feel it likely that $0.8300 will hold the initial test ahead of a slide to the $0.8230 all time low. Rallies are expected to find interim resistance at $0.8405/30 ahead of $0.8500/15, while capped here immediate downside pressure will be maintained."
* DOLLAR/SWISS FRANC: "The dollar has rallied through its seven month resistance line and completed a bull flag pattern. The rally is set to challenge the 1.8305, 15 year high and will therefore allow for this to hold the initial test. Longer term we target 1.90. Interim support lies at 1.8100, 1.8030/25."
* STERLING/DOLLAR: "Sterling has broken below the $1.4020 pivot and remains under pressure, we look for near-term losses to $1.3950 and then $1.3900/1.3890, this latter level remains the last defence for $1.3685/65. Rallies are expected to find good interim resistance at $1.4090 and be contained at the seven- month downtrend at $1.4170."