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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 30, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Resumes uptrend from 1.4100 after yesterday’s sharp pullback from 1.4450 found ground above 1.4300 support. Fresh gains through 1.4496, 14 June high, have so far reached 1.4517, as correction on overbought hourly / 4-hour conditions looms. Immediate support lies at 1.4460/50 zone, ahead of trendline support at 1.4420, where a higher low is sought for continuation of short-term bulls. Above 1.4517 to look for test of main trendline resistance at 1.4533, above which, 1.4695, 07 June high comes in focus.

    Res: 1.4517, 1.4533, 1.4550, 1.4563
    Sup: 1.4457, 1.4447, 1.4420, 1.4400

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    GBP/USD

    Has cleared barriers at 1.6077/1.6100 to extend near-term uptrend from 1.5910 to 1.6115 so far. Holding above 200 day MA, currently at 1.6038, keeps short-term structure positive for upside extension towards 1.6160/1.6200, with possible attempt at 1.6215/60 not ruled out. Overbought near-term conditions suggest corrective pullback preceding fresh rally, with 1.6050 zone expected to contain dips.

    Res: 1.6115, 1.6160, 1.6200, 1.6215
    Sup: 1.6075, 1.6050, 1.6020, 1.6000

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    USD/JPY

    Has ran out of steam after clearance of key near-term barrier at 81.05, with strong reversal emerging from yesterday’s fresh high at 81.26. Dip to 80.30 so far, has weakened near-term structure, confirming near-term top for possible attack at key supports at 80.00 and 79.68/55. On the upside, initial resistance lies at 80.60, also 20 day MA, regain of which may would ease near-term bear-pressure, however, only break above 81.00 barrier improves the tone.

    Res: 80.55, 80.65, 81.00, 81.26
    Sup: 80.30, 80.10, 80.00, 79.68

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    USD/CHF

    Remains constructive off fresh record low at 0.8273, while 0.8300 zone holds. However, yesterday’s failure at 0.8366 and subsequent reversal keep focus to the downside and only recovery above the latter would improve near-term outlook. On the downside, below 0.8300/0.8273 to focus 0.8200 next.

    Res: 0.8350, 0.8366, 0.8375, 0.8400
    Sup: 0.8304, 0.8295, 0.8273, 0.8250

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