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20 November 2001 11:20  TECHNICAL ANALYSTS AT SEB MERCHANT BANKING


* EURO/DOLLAR: "The market moved sideways to lower yesterday as the low from last week was tested. For today we expect further losses once the $0.8760 support is cleared. Look for a move towards $0.8730. Resistance is at $0.8865."
* DOLLAR/YEN: "The pair continued the journey north yesterday. A minor set back from 123.50 has been noted. However, as long as the market stays on top of the 122.00/50 support we expect another test of the upside. Next major resistance found at 123.95/00."

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