EUR/USD
Short-term remains rangebound with initial signs of exhaustion following the earlier breaj out of a four hour rising channel. Regaining 1.3236/40 will hint at renewed strength. Below 1.3119 signals a pullback to 1.3054/1.2980.
Res: 1.3242, 1.3262, 1.3300, 1.3365
Sup: 1.3107, 1.3090, 1.3054, 1.3027
GBP/USD
Yesterday's failure to follow through on an hourly head and shoulders top has turned the outlook short-term bullish with scope for a re-test of the recent high at 1.5968. Blw 1.5820 defers. Region remains good for l-term shorts.
Res: 1.5925, 1.5945 1.5968, 1.6010,
Sup: 1.5820, 1.5780, 1.5761, 1.5723
USD/JPY
A further leg higher is anticipated in a potential corrective cycle off the recent annual low at 85.32. A possible higher low is in place at yesterday's 85.71 for a return to 86.46 initially. Below 85.71 defers.
Res: 86.23, 86.35, 86.46, 86.89
Sup: 85.00, 85.32, 85.56, 85.70
USD/CHF
Wednesday's push over 1.0477 suggests a short term base may be in place. While over 1.0413 a continuation of the near-term recovery is favoured towards 1.0580 before a possible lower high may form.
Res: 1.0519, 1.0555, 1.0565. 1.0580
Sup: 1.0413, 1.0390, 1.0381, 1.0348
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06-08-2010, 03:22 PM #1
Short Term Technical Analysis for Majors (06:10 GMT)
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