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Short Term Technical Analysis for Majors (07:00 GMT)

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Fri Apr 15, 2011 8:02 am

EUR/USD

Strong resistance at 1.45 zone continues to cap, as yesterday’s fresh strength from 1.4365 correction low, failed again to break higher. Market is currently trading just under 1.45 level, with near-term studies still supportive for renewed attempt higher. Above 1.4518 to target 1.4535/79. Corrective dips should be contained by 1.44 zone to keep bulls in play.

Res: 1.4475, 1.4494, 1.4500, 1.4518
Sup: 1.4450, 1.4400, 1.4365, 1.4300

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GBP/USD

Returns to strength after easing from 1.6426 highs was contained at 1.6230 zone. Fresh strength broke above recent consolidation ceiling at 1.63 zone, turns focus back towards 1.6400/26, with 1.6382 seen so far. Break above 1.6426 is sought for fresh push higher, to target 1.6456/1.6500 next. Corrective dips need to hold above 1.63/1.6285 to maintain near-term strength.

Res: 1.6347, 1.6371, 1.6382, 1.6400
Sup: 1.6315, 1.6300, 1.6285, 1.6253

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USD/JPY

Remains on a back foot after recovery attempt from yesterday’s fresh low at 82.94 stalled at 83.77, with subsequent reversal approaching 83.00 zone. Holding below 200 day MA, currently at 83.45, keeps near-term focus lower, with loss of 83.00/82.94 expected to open fresh phase lower and target 82.55/00.

Res: 83.45, 83.77, 83.92, 84.25
Sup: 83.14, 82.94, 82.70, 82.55

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USD/CHF

Extends bears after short consolidation off 0.8948, previous low, was limited by 0.8980, with fresh weakness losing initial support at 0.8948 and breaking briefly through key support and all-time low at 0.8900. Near-term tone remains bearish, looking for extension towards 0.88, with corrective attempts seen capped at 0.8960/90.

Res: 0.8957, 0.8968, 0.8990, 0.9017
Sup : 0.8915, 0.8900, 0.8894, 0.8850

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