Technical analysis - Page 224

The Euro fell against the dollar to 1.1200, a new 16-month low, having lost more than 4% in the last four weeks. The downward trend in the single currency accelerated in November on the divergence between Fed and ECB policies..

• GER50 index broke support zone • Likely to fall to support level 34200.00 GER50 index recently broke the support zone lying between the key resistance level 34700.00 (low of the previous minor wave 2 from October) and the 50%.

• GBPNZD broke resistance zone • Likely to rise to resistance level 1.9500 GBPNZD currency pair recently broke the resistance zone lying between the key resistance level 1.9265 (top of the previous wave (a)), channel line from August and the.

• Gold broke support zone • Likely to fall to support level 1760.

• EURNZD reversed from support area • Likely to rise to resistance level 1.

• FTSE 100 reversed from support area • Likely to rise to resistance level 7400.

• CADCHF reversed from support area • Likely to rise to resistance level 0.

• AXA reversed from resistance area • Likely to fall to support level 24.

• Palladium reversed from resistance level 2200.00 • Likely to fall to support level 2100.

• EURCHF under bearish pressure • Likely to fall to support level 1.

• Lufthansa reversed from resistance level 7.000 • Likely to fall to support level 5.

• GBPCAD rising inside wave 4 • Likely to rise to resistance level 1.