Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
EURO/DOLLAR: "1.2725 should cap the upside."
DOLLAR/SWISS FRANC: "We continue to expect the dollar/Swiss franc recovery to run out of steam in the 1.2290 area."
EURO/SWISS FRANC: "Rebounding, breaking through short-term down trendline resistance. We now expect a Euro/Swiss franc recovery towards 1.5500."
STERLING/DOLLAR: "A break above initial resistance at the $1.8430 level is needed to open near-term upside potential towards the $1.8530/95 area. But, we continue to view such a rebound as a medium-term selling opportunity."
EURO/STERLING: "We see euro/pound rallying by more than 10 percent, but suggest selling sterling across the board. Euro/pound is likely to stay above 0.6850."
US DOLLAR/CANADIAN DOLLAR: "Upside should be capped by C$1.2655, while a break below C$1.2500 opens further downside potential to C$1.2390. We remain bullish (on the) Canadian dollar not only against the dollar, but also against the Aussie dollar and the New Zealand dollar."
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