Archived IMT (2010.03.03)

US Feb services ISM hits 53 (exp 51) highest since Dec 2007, while Employment component rises to 48.6 (highest since April 2008) from 44.6. The report pushes 10-year yields to 3.65%, while EURUSD remains capped at the $1.3670 resistance mentioned in previous IMT (61.8% retracement of the 1.3785-1.3442 decline). EURUSD REMAINS WELL IN ITS 3-MONTH DOWN CHANNEL, whose validation can only be eroded by a breach above $1.3820. GBPUSD downtrend also intact, with any extended rebound seen capped at $1.5134. With ADP coming in line with expectations at -20K (previous revised to -60K from -22K) we warn about the possibility for a positive surprise in Fridays job report. AUDNZD shorts may consider short positions in NZDJPY especially as AUDUSD and AUDNZD continue to fail those important resistance figures addressed in this IMT http://chart.ly/d9v4r2 *** WATCH ASHRAF ON CNBC-US (Power Lunch) at 12:25 EST (17:25 GMT) ***