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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 25, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Recovery attempt from 1.4050, yesterday’s low, failed to clear 1.4213 barrier, followed by subsequent easing to 1.41 zone. This has turned immediate tone negative, but while 1.4080/1.4050, 55 day MA / higher low holds, scope exists for fresh attack at 1.4213, then 1.4280, on a break. Downside loss of 1.4050, however, would confirm lower high at 1.4213 and open way for further easing towards 1.4012, 61.8% retracement and 1.3980, 18 Mar low.

    Res: 1.4174, 1.4192, 1.4213, 1.4218
    Sup: 1.4105, 1.4094, 1.4052, 1.4040

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    GBP/USD

    Continues to trend lower on reversal from fresh high at 1.6400, losing 61.8% retracement level of 1.5959/1.6400, to test 1.6059, 18 Mar low so far. Clear break here will expose 1.5959, last 6-week range floor. Initial resistance lies at 1.6140, while break above 1.6215, 23/24 Mar consolidation range ceiling is needed to turn focus higher.

    Res: 1.6127, 1.6140, 1.6194, 1.6215
    Sup: 1.6040, 1.6018, 1.6000, 1.5959

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    USD/JPY

    Bounces higher from past week narrow consolidation range to test 81.31 range ceiling, ahead of sharp reversal under 80.00. Recovery attempt has temporarily regained 81.00 handle, but break above 81.31/36 is needed to confirm and expose 82.00 next. At the downside, 80.86/69 underpins, with loss of 80.57 to signal resumption of the broader downtrend.

    Res: 81.36, 81.74, 81.98, 82.41
    Sup: 80.86, 80.69, 80.57, 80.16

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    USD/CHF

    Maintains positive tone after pullback from 0.9122, yesterday’s fresh recovery high, found support at 0.9027. Renewed strength above 0.91 cleared 0.9122/39 barriers, looking upside extension towards 0.9187/0.9200, 61.8% retracement of 0.9367/0.8900 downleg / 02 Mar low, break of which will expose key short-term barrier at 0.9367. Immediate support lies at 0.9120, while higher low at 0.9027 underpins the advance.

    Res: 0.9160, 0.9187, 0.9200, 0.9250
    Sup:0.9120, 0.9075, 0.9050, 0.9027

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