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Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 15, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends fall from 1.4496, yesterday’s high, losing trendline support at 1.4368 and key near-term levels at 1.4320/00, to approach 1.4250, Fib 61.8% of 1.3968/1.4694. This confirms short-term downtrend and lower top at 1.4496. Negative near-term studies favor further weakness towards 1.4200/1.4180, with oversold conditions suggesting corrective bounce, ahead of fresh push lower. 1.4320/50 zone offers initial resistance

    Res: 1.4300, 1.4320, 1.4350, 1.4377
    Sup: 1.4263, 1.4256, 1.4245, 1.4200

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    GBP/USD

    Upside rejection at 1.6440 has triggered sharp decline that nearly fully retraced 1.6215/1.6440 upleg, reaching 1.6226 so far. Potential loss of 1.6215 would expose 1.6131/00 next, while 1.6300/20 zone, Fib 38.2% / 20 day MA, is expected to hold corrective bounce, as hourly studies are deeply oversold.

    Res: 1.6280, 1.6300, 1.6330, 1.6357
    Sup: 1.6226, 1.6215, 1.6200, 1.6131

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    USD/JPY

    Near-term price action off 79.68/80.00 cleared strong barrier at 80.70, also trendline off 82.20, to test 81.00 zone so far. Supportive near-term studies see scope for further gains towards 81.30, possibly 81.76 on a break, with corrective dips seen contained at 80.40 zone, to maintain near-term strength.

    Res: 81.04, 81.31, 81.76, 82.00
    Sup: 80.63, 80.37, 80.12, 80.00

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    USD/CHF

    Extends the near-term recovery from 0.8325/45 lows, breaking through 0.8450/70 and 0.8500 barriers, en-route to 0.8544/50, 31 May high/04 May low. Break here would confirm near-term base and open way for stronger recovery, with trendline resistance at 0.8660 seen on a break. On the downside, 0.8450/40 zone offers immediate support, with dynamic support at 0.8430, 20 day MA, underpinning the advance.

    Res: 0.8525, 0.8544, 0.8550, 0.8600
    Sup: 0.8483, 0.8466, 0.8455, 0.8440

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