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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 22, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The Euro maintains positive near-term tone and holds above 1.2900 support, following overnight’s extension to 1.2937, where rally was capped by 55 day EMA. The level lays just ahead of 1.2950, previous range floor and Fib 38.2% of 1.3193/1.2795 descend, break of which to confirm near-term base and open more significant barriers at 1.3000, 50% retracement and 1.3027, 14 May high. Corrective actions should be ideally contained at 1.2880/70 zone, Fib 38.2% / 50% of the near-term ascend from 1.2795 and hourly 55 day EMA, to keep bullish structure intact.

    Res: 1.2937, 1.2950, 1.2972, 1.3000
    Sup: 1.2900, 1.2883, 1.2865, 1.2840



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    GBP/USD

    Cable slumped to the fresh lows near 1.5100 yesterday, after upside rejection at 1.5280, where lower top was left. Bears are back in play, as the pair ended corrective action and near-term focus lays at psychological 1.5100 support, blow which, fresh resumption of the pullback from 1.5600 area, would look for test of 1.5020/00 zone. Quick corrective rally stays so far capped under important 1.5200 resistance that keeps the downside pressured, with near-term indicators holding in the negative territory.

    Res: 1.5188, 1.5200, 1.5220, 1.5261
    Sup: 1.5137, 1.5110, 1.5100, 1.5020


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    USD/JPY

    The pair holds neutral near-term tone and moves in a directionless mode, with 102.24/87 marking near-term range limits. As the pullback from fresh high at 103.29, has been contained at 102.00, the latter offers solid support for fresh attempt higher. Studies of 4h chart remain positive, while overall bullish tone keeps the upside favored. Clearance of 103.29 to resume the broader uptrend that could travel up to 105.00 barrier. Only loss of 102.00 and 101.80, near-term range floor, would delay and allow for stronger correction.

    Res: 102.87, 102.93, 103.29, 103.50
    Sup: 102.24, 102.00, 101.80, 101.25


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    AUD/USD

    Aussie dollar has regained some ground after finding temporary support at 0.9709, with subsequent rally being limited at 0.9840 for now. Repeated failures at 0.9840, keep the upside attempts limited, with near-term price action moving in a sideways mode, within 0.9750/0.9840 range. Hourly studies are neutral, while negative tone prevails on 4h chart that sees the current corrective action limited. Potential break above 0.9840, would look for test of strong 0.9900 zone, to signal further recovery, while more likely scenario, sees loss of 0.9750 platform and return to initial support at 0.9700.


    Res: 0.9840, 0.9881, 0.9915, 0.9939
    Sup: 0.9762, 0.9750, 0.9720, 0.9709


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