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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 28, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Has left a near-term double top at 1.4215 ahead of fresh slide under 1.4052, previous low, to test 1.4020 so far. Current bounce is seen corrective, while 1.4080, 20 day MA and Friday’s closing price, stay intact. However, bearish near-term studies favor further easing towards 1.4000/1.3980, possibly 1.3865/54 higher platform.

    Res: 1.4068, 1.4080, 1.4110, 1.4155
    Sup: 1.4020, 1.4000, 1.3980, 1.3954

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    GBP/USD

    Last Friday’s loss of 1.6059, 18 Mar higher low, has extended reversal from 1.6400 peak, to test 1.5989 so far, just above key near-term support at 1.5959, 17 Mar low and short-term range floor. Break here will confirm top at 1.6400 and open way for further retracement of broader 1.5343/1.6400 upleg, with 1.5870/21, 50% retracement / 31 Jan low, seen next. Immediate resistance lies at 1.6056, while regain 1.6140 needed to signal recovery.

    Res: 1.6021, 1.6033, 1.6056, 1.6088
    Sup: 1.5989, 1.5959, 1.5870, 1.5821

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    USD/JPY

    Bounces higher from past week narrow consolidation range to break above 81.31 range ceiling, posting fresh one week high at 81.83, just ahead of key near-term barrier at 82.00, 18 Mar recovery high, clearance of which is needed to resume current recovery attempt, to focus 82.45, then 83.29, 14/11 Mar highs. Range bottom at 80.70 underpins the advance for now.

    Res: 81.83, 81.98, 82.45, 82.60
    Sup: 80.18, 81.00, 80.86, 80.69

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    USD/CHF

    Maintains positive tone after clearance of 0.9122/39, previous high/15 Mar low and 0.9200 barrier, to test 0.9232 so far. Near-term studies remain supportive for fresh gains towards 0.9310 and key short-term resistance at 0.9367, break of which is required to signal recovery under way. However, rally may be interrupted by corrective pullback, as hourly studies entered overbought zone. 0.9120 offers initial support.

    Res: 0.9232, 0.9250, 0.9310, 0.9367
    Sup: 0.9193, 0.9120, 0.9075, 0.9050

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