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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 14, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Returns to strength after the recent pullback from 1.4035 high, retraced early 50% of 1.33427/1.4035 upleg, and found support at 1.3751. Regain of 1.39 handle keeps the near-term outlook bullish, focusing 1.40 and 1.4035, break of which to open a fresh phase higher. Immediate support lies at 1.3915, while 1.3860, 20 day MA underpins the advance.

    Res: 1.3952, 1.3969, 1.4000, 1.4035
    Sup: 1.3915, 1.3900, 1.3860, 1.3840

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    GBP/USD

    Remains at the back foot after recovery from Friday’s fresh low at 1.5976 was capped at 1.61. Holding below 1.6125/00 barriers, keep the near-term tone negative, with scope for fresh weakness through 1.5976, to target 1.5957, 14 Feb low and recent range floor, loss of which would signal further retracement of 1.5343/1.6342 upleg.

    Res: 1.6077, 1.6098, 1.6124, 1.6175
    Sup: 1.6026, 1.6000, 1.5976, 1.5957

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    USD/JPY

    Upside rejection at 83.29 has seen sharp fall through trendline support at 81.67, with spike low at 80.59, ahead of strong bounce above 82.00, where a 20 day MA currently lies. Holding above the latter keeps immediate tone positive, with regain of 82.45/60 zone required to open 83.00/29 barriers for retest. Losing 82.00/81.65 support, will turn focus lower.

    Res: 82.25, 82.45, 82.60, 83.05
    Sup: 82.03, 81.65, 81.29, 80.57

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    USD/CHF

    Near-term recovery from 0.9200, fresh record low, has so far been limited by 0.9360 zone, with subsequent reversal finding support at 92.70 zone for now. Upside clearance of 20 day MA, currently at 0.9314, is needed to re-focus 0.9360/67 barriers, break of which will open fresh upleg of recovery phase from 0.92. At the downside, 0.9270/55 supports the advance.


    Res:0.9357, 0.9367, 0.9390, 0.9417, 0.9454
    Sup: 0.9294, 0.9270, 0.9266, 0.9255

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