LONDON, June 25 - Following is a selection of comments from analysts on important technical developments in the foreign exchange market.
NICOLE ELLIOT, TECHNICAL STRATEGIST, IBJ
* EURO/DOLLAR: "Support at $0.8514/$0.8490 has nudged prices higher as expected. Today's break above $0.8570/$0.8580 should set up a move $0.8673/$0.8678, which is the trendline resistance, this week. In order to see bullish momentum increase, prices should hold above $0.8550 today."
* EURO/YEN: "Friday's sharp rally ahead of trendline support hints that we may have to change tack. While below 106.80 yen, we shall continue to allow for more work between here and 104.50. A break above 106.80 forces us to review the medium term outlook as it sets up for a sharp rally to 108.40 and then 110.00."