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Following is a selection of comments from analysts on important technical developments in the foreign exchange market:
EURO/DOLLAR: "$1.2160 is a big level, a Fibonacci retracement level so far the market is entirely respecting it. Our bias is that the dollar bull trend still has a long way to go. Below there opens up $1.1950 to $1.2000."
STERLING/DOLLAR: "The obvious sticking point is going to be $1.8000. Eventually I think (sterling) will make it down to between $1.8000 and $1.7800. Sterling will then... maybe consolidate and have a bit of a bounce."
US DOLLAR/CANADIAN DOLLAR: "Valuation-driven retracement to C$1.2360 viewed as a medium-term buying opportunity for a test of C$1.2731."
EURO/DOLLAR: "Anticipated retracements to $1.2410/77 to present a selling opportunity, targeting $1.2124/$1.2028.
STERLING/DOLLAR: "Retracements to resistance at $1.8356/$1.8431 viewed as another selling opportunity, targeting $1.7845.
DOLLAR/YEN: "Pullbacks to support at 107.17 yen/106.26 yen to provide an entry point for long positions for a return to 108.88 yen." Currency bid prices at 1918 GMT. All data taken from Reuters calculated from the levels at 2030 GMT in the previous New York session.

Copyright Reuters, 2005

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