Updating time : 29/10/2007 23:59 GMT

EUR/USD - 1.4415...Although the single currency rose to another record high at 1.4439 in y'day's European morning session, price retreated fm there to 1.4377 on profit taking n also cross selling vs sterling b4 rebounding in U.S.
trading to 1.4432.

Today, as long as y'day's top at 1.4439 holds, further 'choppy' trading below there is likely n below said sup at 1.4377 wud bring minor correction of intermediate rise fm 1.4188 but 1.4343/49 (38.2% r of 1.4188-1.4439 n prev. res) shud limit downside n yield another rise, abv said res wud confirm MT uptrend has once again resumed n further headway to measured obj. at 1.4477 (50% proj. of 1.3360-1.4283 fm 1.4015) wud follow. Looking ahead, euro needs to penetrate the 1.4500 lvl (option barrier is rumoured to be placed here) to extend further gain to 1.4541 (1.618 times ext. of 1.4188-1.4345 fm 1.4287) later this week.

On the downside, below 1.4313/17 (50% r of 1.4188-1.4439 n minor sup) wud signal temporary top has been formed y'day at 1.4439 n risk correction to 1.4283/87 (50% r of 1.4126-1.4439 n sup) but reckon 1.4248 shud remain intact..

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