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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 23, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s break above triangle was short-lived as failure to sustain gains above 1.4431, previous high, triggered strong sell-off. Loss of triangle support at 1.4360 and key levels at 1.4300/1.4290, weakened the near-term structure, with focus on 1.4253/13, Fib 50% / 61.8% of 1.4073/1.4440 ascend / daily 90 day MA, and 1.4190, 20 June higher low. Immediate barriers lie at 1.4344/50, yesterday’s intraday lows / hourly 20 day MA.

    Res: 1.4344, 1.4352, 1.4385, 1.4420
    Sup: 1.4282, 1.4253, 1.4213, 1.4190

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    GBP/USD

    Has slumped through key short-term supports at 1.6077/57 after recovery attempt from 1.6077 was capped by 4-hour 55 day MA at 1.6260, to 200 day MA at 1.6028. This suggests fresh weakness towards 1.6000 then 1.5935, Feb /Mar range floor, loss of which would signal and end of med-term recovery phase from 1.5345.

    Res: 1.6092, 1.6108, 1.6148, 1.6166
    Sup: 1.6028, 1.6017, 1.6000, 1.5935

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    USD/JPY

    Broke above the recent consolidative range, as psychological support at 80.00 remains intact, extending gains to 80.60 zone so far, en-route to key near-term barrier at 81.05. Previous highs at 80.33/36 offer good support for now, with latest corrective pullback being contained here. Hourly 20 day MA, currently at 80.31, underpins the near-term bulls.

    Res: 80.63, 80.92, 81.05, 81.31
    Sup: 80.33, 80.00, 79.68, 79.55

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    USD/CHF

    Extended the downleg from 0.8550 barrier, breaking through 0.8400 support, to test levels just above record low at 0.8325, where temporary support was found. Subsequent bounce has regained 0.8400 handle, with 0.8436 seen so far. Holding above 0.8400, also hourly 20 day MA, keeps immediate recovery attempt in play, with regain of 0.8450/75 is required to confirm and re-focus 0.8550.

    Res: 0.8436, 0.8450, 0.8475, 0.8514
    Sup: 0.8386, 0.8338, 0.8325, 0.8300

    [​IMG]
     
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