18 December 2001, 12:30  : Forex market outlook and key levels

TIM MAZANEC, TECHNICAL ANALYST AT INVESTORS BANK AND TRUST

* EURO/DOLLAR: "Trend is higher as the downward channels are broken. Today's resistance/support at $0.9135/0.9005 and $0.8950."
* DOLLAR/YEN: "Unless dollar/yen creates a severe upward channel heading due north, dollar/yen's pace to remain steady in its current channel. Monthly targets are 128.65, 50 percent projection level, and 131.80, 61.8 percent level."
* STERLING/DOLLAR: "Daily chart's upward channel remains while Cable has broken the weekly down-channel. Resistance is at $1.4665 with supports at $1.4560 and $1.45." **

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