ELIZABETH MILLER, TECHNICAL ANALYST, REDTOWER REASEARCH

* EURO/DOLLAR: "U.S. equity markets continued to march higher yesterday, little spillover into the dollar but watch closely, pressure on the euro through $0.8900 to probe rising support at $0.8875 does look likely. A decent break should give dollar bulls a reprieve, still thinking that this one will see $0.8770/30 and lower again. However, failure to push through trendline support will leave the euro to clamber higher, $0.8970 declining trendline resistance marking the level to clear there. For choice, still thinking that the upside is limited, ECB (European Central Bank) on Thursday and U.S. jobs data on Friday give reasons to sit on hands for now, but a break either way should be seen soon!"
* DOLLAR/YEN: "Dollar/yen remains slightly bid and still favor a push towards higher levels. Trend models are all up, should see fund buying, technically need the 125 zone to give way to really open up the path to higher levels. Support is still light above 122.75 but should try to hold the 123.60 area."
* AUSTRALIAN DOLLAR/ US DOLLAR: "The RBA (Reserve Bank of Australia) trimmed rates by 25 basis points to 4.25 percent, no real surprise there, FX eased a touch and then bounced as GDP came in a touch stronger than expected. Technically look for a push through the US$0.5170/75 zone in the coming sessions, then to 0.5200 with 0.5250 still targetted. Support at 0.5145/25 should hold.