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EURNZD - Having breached channel base.........>

FOREX
FOREX: EURNZD - Having breached channel base support (See MNI email EURNZD - Oct
18) and closed below the 100 & 200-dma's. EURNZD extends its corrective pullback
through NZ$1.6700 to $1.6686 and now looks certain to buck the trend of eight
consecutive quarters of gains, currently -4.79%. Expect next support from the
double-bottom area at NZ$1.6570/80, below here opens the 50% retracement level
of NZ$1.3883-1.9201 at NZ$1.6542, ahead of the ytd low Jan 11 at NZ$1.6522.

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