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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends recovery off 1.1875, with fresh upleg from 1.2162, yesterday’s higher low, underway. 1.2325 resistance has been cleared, and 1.2366 is seen next. Break here to open key 1.2451, 28 May high. 1.2297, former resistance, now offers initial support. Loss of 1.2162 sidelines near-term bulls.

    Res: 1.2355, 1.2366, 1.2380, 1.2430
    Sup: 1.2297, 1.2260, 1.2240, 1.2162

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    GBP/USD

    Continues to edge towards retracement target at 1.4874, where a lower high has the potential to form. Rise off 1.4230 remains corrective in nature with an eventual re-test of 1.4230 expected, and potential break here to open 1.3500 zone short-term.

    Res: 1.4836, 1.4874, 1.4915, 1.4960
    Sup: 1.4714, 1.4680, 1.4657, 1.4607

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    USD/JPY

    Remains locked within a tightening range following the 88.95 to 92.94 rally. Extremes now lie at 91.06 and 92.10. Immediate gains could test near 92.10, break of which would open 4 week triangle resistance at 92.60. Loss of 91.06 opens 90.83/53 next.

    Res: 91.95, 92.10, 92.20, 92.33
    Sup: 91.06, 90.95, 90.83, 90.76

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    USD/CHF

    Yesterday’s recovery attempt left a lower top at 1.1478, ahead of fresh weakness. Current downleg is breaking below falling channel off 1.1730 high, with further losses through 1.1266, seen towards 1.1235/1.1188. Potential recovery seeks a lower top under 1.1480.

    Res: 1.1348, 1.1417, 1.1478, 1.1502
    Sup: 1.1266, 1.1245, 1.1235, 1.1188

    [​IMG]
     
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