LONDON, Nov 25 ) - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
TECHNICAL ANALYSTS, CAPITAL MANAGEMENT
* EURO/DOLLAR: "Euro is approaching the last bastion of resistance at $1.3200. However a pullback below $1.3065 is needed to argue long-awaited correction has begun to $1.27-28 area before higher. Over $1.3250 maintains the upside pace in a rally that should attempt $1.34."
* DOLLAR/SWISS FRANC: "As short-term decline has stabilised, there is scope for reaction back to 1.1520. Failure to take 1.1560 argues for another drop to 1.1380 before turn."
* STERLING/DOLLAR: "Taking the $1.8765 pivot confirms the strength of the rally, with the potential to attempt the $1.9120 peak. Support at the $1.8730 level should hold or risk a surprise correction to $1.8550 again, as the market regroups for uptrend to challenge $1.91."
** MAX MCKEGG, TECHNICAL RESEARCH LTD
* DOLLAR/YEN: "Downtrend persists and resistance at 103.20/35 probably now contains for decline to 102.25 en route 101.30 over coming days."
* DOLLAR/SWISS: "Downtrend persists and resistance 1.1490/1520 probably now contains for sell-off toward 1.1385, en route to 1.1300 over coming days."
* AUSTRALIAN DOLLAR: "The Aussie's uptrend persists and support found about US$0.7860/40 for advance toward mid US$0.7900s, en route for US$0.8000 over coming days."