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Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 4, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s rally stalled at 1.2325, just under key pivot at 1.2352, ahead of reversal. 1.2153 support contained for now, with fresh attempt higher under way. Underlying structure remains negative and break below 1.2153/10 to open 1.1823. Upside, regain of 1.2325/52 is needed to ease current bear pressure.

    Res: 1.2213, 1.2232, 1.2270, 1.2325
    Sup: 1.2153, 1.2110, 1.2065, 1.2035

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    GBP/USD

    Short-term outlook still sees scope for a final swing higher to complete the recent recovery off 1.4230, annual low. Regain of 1.4740/69 is needed to resume higher, with 1.4548 offering initial support. Medium-term outlook, however, seeks a lower high under 1.5033, for fresh weakness and an eventual relapse towards 1.3500.

    Res: 1.4687, 1.4740, 1.4769, 1.4782
    Sup: 1.4582, 1.4548, 1.4468, 1.4437

    [​IMG]



    USD/JPY

    Break of trendline resistance at 91.20 fueled rise towards 92.97/93.10. Break here is needed to extend the phase towards 93.62, possibly 94.01 on break. Yesterday's intraday higher platform at 92.20 now underpins advance, and potential break below here to open 92.02 initially.

    Res: 92.94, 93.10, 93.65, 94.00
    Sup: 92.20, 92.02, 91.76, 91.48

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    USD/CHF

    Maintains positive structure while holding above 1.1495/49 zone. Upside break above 1.1572 and 1.1601 will signal a fresh rally towards 1.1730, spike high of 01 June, and above here to target a longer-term trendline at 1.1777. Only a loss of the 1.1495/49 region would weaken the outlook.


    Res: 1.1572, 1.1601, 1.1655, 1.1694
    Sup: 1.1495, 1.1467, 1.1449, 1.1417

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