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Short Term Technical Analysis for Majors 09:45 GMT

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 26, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Bounced higher, just off key 1.3445 low, to test 1.3600 so far. Bearish tone remains dominant while 1.3625 caps the upside, for fresh attempt at 1.3451/45. Clearance of 1.3625 to open way for stronger correction towards 1.3650/90.

    Res: 1.3601, 1.3625, 1.3650, 1.3690
    Sup: 1.3530, 1.3465, 1.3445, 1.3420



    GBP/USD

    Remains constructive off yesterday’s 1.5188 low, testing now 1.5300, on the way to 1.5385/90, where the potential lower top is seen. Wider picture still favors bears, with further weakness to 1.5188/15 expected.

    Res: 1.5350, 1.5385, 1.5430, 1.5475
    Sup: 1.5234, 1.5188, 1.5175, 1.5130



    USD/JPY

    Yesterday’s break lower has seen dip to 88.80, ahead of current consolidation. Bears now seek for 88.80 retest, break of which to expose 88.54, 2010 low, posted on 04 Feb, while 90.35 caps short-term.

    Res: 89.55, 89.72, 90.35, 90.55
    Sup: 88.80, 88.54, 88.25, 87.90



    USD/CHF

    Bounce off 1.0737 has seen 1.0860 high, ahead of weakness. Current attack at 1.0765, trendline support, sours the tone and sees 1.0737 next, with break there to allow further reversal to 1.0715/1.0680. Early downside rejection will bring 1.0800+ area back in focus.

    Res: 1.0796, 1.0825, 1.0877, 1.0897
    Sup: 1.0737, 1.0715, 1.0700, 1.0680
     
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