EUR/USD
Reversal from 1.3156, last Friday’s high, also near 76.4% retracement of 1.3332/1.2586 downleg, warns of pullback towards 1.2955/20 zone, to possibly complete 3-legged swings from 1.2586. Upside, regain of1.3156/86 is needed to firm for return to 1.3332.
Res: 1.3130, 1.3156, 1.3186, 1.3227
Sup: 1.3020, 1.2975, 1.2955, 1.2920
GBP/USD
Reversal off 1.5728 has broken hourly rising channel support at 1.5640, as well as 1.5571 support, turning focus to the downside. First support lies at 1.5535, and potential break here to confirm a lower top and open 1.5449 next. Oversold hourly conditions warn of possible correction, though, regain of 1.5684 is needed for retest of 1.5728.
Res: 1.5610, 1.5684, 1.5728, 1.5760
Sup: 1.5535, 1.5520, 1.5480, 1.5449
USD/JPY
Strong rally off 82.86 yearly low, tested 85.91/92, 19/30 Aug highs, though clear break here is requested to resume gains towards 86.38, 38.2% level. Correction should be contained by 85.21, to keep immediate bulls in play, and attract 85.91/86.40. Loss of 85.21, however, would open way for relapse to 82.86.
Res: 85.91, 86.38, 86.89, 86.99
Sup: 85.50, 85.21, 85.00, 84.72
USD/CHF
Soared through 1.0050/61 resistance last week, to extend corrective phase off 0.9931. A lower top is now in place at 1.0181, 17 Sep high, near trendline drawn off 1.0625, 12 Aug high. The latest upside rejection at 1.0116 supports return to 0.9997/31.
Res: 1.0116, 1.0149, 1.0181, 1.0197
Sup: 0.9998, 0.9965, 0.9931, 0.9916
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20-09-2010, 03:31 PM #1
Short Term Technical Analysis for Majors (14:00 GMT)
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