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Windsor Brokers - Short Term Technical Analysis for Majors (08:15 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 10, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Succession of higher lows marks the recovery off 1.1875, fresh annual low. 1.2072 was seen yesterday, just below of 1.2082, 61.8% retracement of 1.2214/1.1875 decline. Clearance of 1.2072/82 is required o resume recovery, with key levels standing at 1.2106/1.2162 and 1.2213. Downside, loss of trendline support at 1.1940 ends correction and turns focus back to 1.1640.

    Res: 1.2072, 1.2082, 1.2106, 1.2162
    Sup: 1.2010, 1.1954, 1.1940, 1.1875

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    GBP/USD

    Extends recovery off 1.4344 higher low, with potential for fresh leg higher, as yesterday’s break below 1.4552 failed. 1.4680 is seen next, though, holding below 1.4769, keeps risk of lower top, ahead of return to 1.4230.

    Res: 1.4619, 1.4644, 1.4680, 1.4742
    Sup: 1.4508, 1.4476, 1.4395, 1.4344

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    USD/JPY

    Maintains negative tone off 92.87, 04 Jun high, en-route to 5 week triangle support at 90.45. Break here opens 89.80, 26 May low, first, ahead of possible return to 88.95. To improve immediate tone, clearance of 91.68 is required, with 92.07, 07 Jun high, targeted.

    Res: 91.68, 92.07, 92.20, 92.49
    Sup: 90.83, 90.53, 90.45, 89.80

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    USD/CHF

    Trades within a marginally corrective channel off 1.1730, 2010 high, posted 01 Jun, and 1.1672, lower top of 07 June. The lower channel at 1.1390 now buoys, and break above 1.1506 would firm immediate tone for 1.1554/1.1630. Downside, loss of 1.1390 opens 1.1268.

    Res: 1.1502, 1.1533, 1.1553, 1.1587
    Sup: 1.1417, 1.1390, 1.1374, 1.1325

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