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Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 22, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Corrects below 1.42 level after extending gains to post fresh 4-month high at 1.4247. Next supports lie at 1.4135, yesterday’s low and 1.4100, 38.2% retracement of 1.3867/1.4247 ascend, where corrective dips should be contained, for fresh push higher. Above 1.4247 to target 1.4280/1.4303.

    Res: 1.4200, 1.4247, 1.4256, 1.4280
    Sup: 1.4158, 1.4135, 1.4100, 1.4073

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    GBP/USD

    Extends advance from 1.5959, 17 Mar low and short-term range floor, breaking through 1.6342 key resistance, to briefly test 1.64 barrier. Narrow consolidation above 1.6360 is expected to precede fresh push higher and through 1.64 to target 1.6456, 2010 high and psychological level at 1.6500. 20 day MA, currently at 1.6325 underpins the advance.

    Res: 1.6385, 1.6400, 1.6456, 1.6500
    Sup: 1.6260, 1.6225, 1.6200, 1.6180

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    USD/JPY

    Consolidates in a narrow range after sharp recovery off 79.25 record low peaked at 82.00. Downside remains supported by 80.57, Friday’s low / 20 day MA, for now, with clearance of 81.30, range ceiling and 82.00 needed to resume recovery. 82.66, 90 day MA on a daily chart, and 83.30, 11 Mar high, are seen on a break. However, loss of 80.57 will signal fresh weakness under 80.00 handle. Longer-term outlook remains bearish.

    Res: 81.31, 81.74, 81.98, 82.41
    Sup: 80.81, 80.57, 80.16, 80.00

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    USD/CHF

    Maintains near-term positive tone after reversal from 0.9089, last Friday’s recovery high, settles above 0.9000 level. Recent range’s ceiling at 0.9072/89 needs to be cleared to resume recovery attempt off 0.8900 record low, and expose 0.9139, near 50% retracement of 0.9367/0.8900 downleg where a lower high is anticipated, ahead of fresh weakness, with loss of 0.9000 support to re-focus 0.8961/0.8900 levels.
    Undergoes recovery after dipping to a fresh all-time low at 0.8900

    Res: 0.9072, 0.9089, 0.9139, 0.9200
    Sup:0.9011, 0.9000, 0.8986, 0.8961

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