Archived IMT (2010.04.21)

THE CASE FOR $1.30 EURUSD remains very much alive. $1.27 is a subsequent target for Q3. Selling the rebounds is here to stay. The April 12-13 high was the only blip out of the 4-month down channel, but the fact that the spike was eliminated w/in 5 days underlines the technical case against EURUSD. France confirmed 6.3 bln euros as its part of aid to Greece, but markets looking at Athens ability to repay its debt beyond May. $1.3470 stands as immediate resistance, with prelim downside target at $1.34, followed by $1.3340. GBPUSD rallies on mixed employment figures (claimant unemployment fell by 33K but unemp. rate hit 14-year high of 8.0%). High profile resistance seen at $1.5470.