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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 8, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Attempts to sustain break above key 1.2671 resistance, with 1.2695 seen so far, just ahead of 1.2701, trendline resistance off 1.5140. Break here is needed to open 1.2738/60 area next. Immediate support stands at 1.2620, while potential break below 1.2552 risks fresh near-term bears.


    Res: 1.2701, 1.2738, 1.2760, 1.2803
    Sup: 1.2619, 1.2585, 1.2552, 1.2508

    [​IMG]


    GBP/USD

    Upside rejection at 1.5228 has triggered reversal that found support at 1.5080 yesterday, ahead of fresh strength. Market now consolidated just under 1.5228, break of which is required for final push towards 1.5301, 38.2% retracement of 1.7044/1.4230. Initial support stands at 1.5080, and loss here to sideline near-term bulls.

    Res: 1.5239, 1.5265, 1.5301, 1.5345
    Sup: 1.5120, 1.5080, 1.5041, 1.5000

    [​IMG]


    USD/JPY

    Dipped to 87.01 yesterday, just above 86.96, 01 Jul annual low. A corrective bounce is now being seen following the breach at 87.66. Potential is now for an extension to 88.77/91, before fresh downleg, and below 86.96 to expose 86.15. Above 88.91, however, to allow a stronger correction.

    Res: 88.77, 88.91, 89.05, 89.50
    Sup: 87.99, 87.62, 87.34, 86.96

    [​IMG]


    USD/CHF

    Has completed a 3 day bear flag as the market continues to trend lower towards key support at 1.0435. Market reached 1.0480, ahead of minor correction to 1.0561. Fresh weakness now approached 1.0480, break of which exposes 1.0435, possibly 1.0365 on a break. Upside regain of minimum 1.0561 is needed to delay bears.

    Res: 1.0561, 1.0599, 1.0637, 1.0655
    Sup: 1.0480, 1.0435, 1.0400, 1.0365

    [​IMG]
     
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