Updating time : 30/11/2007 00:04 GMT

EUR/USD - 1.4757...The single currency tumbled to 1.4723 y'day on the back of cross unwinding vs yen (eur/jpy declined over 200 points fm 163.62 to 161.56) n also dlr's firmness vs other European currencies, however, euro stopped short of Tuesday's low at 1.4712 n recovered in NY afternoon session.

Although y'day's selloff suggests the erratic decline fm 1.4968 top has
'possibly' resumed, a break below aforesaid sup at 1.4712 is needed to confirm
another leg of decline to correct MT uptrend is under way n further weakness to 1.4688 (previous res) n then 1.4646 (min. 38.2% r of the intermediate rise fm 1.4126-1.4968) wud follow, however, reckon chart sup at 1.4621 shud contain downside n bring a rebound.

Abv 1.4782 (o/n NY high) wud prolong recent choppy 'sideways' trading n
yield gain twd 1.4807/09 (61.8% r of 1.4859-1.4723 n prev. sup), however, only a firm breach of 1.4859 wud bring a stronger retracement of the fall fm 1.4968 twds 1.4893/1.4909 (70.7% r of 1.4968-1.4712 n pivotal res). As the near term outlook on euro is mixed, we will stand aside initially...