EUR/USD
The near-term price action remains capped under 1.3750 barrier, as upside attempt higher stalled below yesterday’s high at 1.3743. Fresh slide below 1.3650 support was held above trendline off 1.3500, maintaining near-term outlook rather directionless ahead of Fed’s announcement. However, wider picture maintains bearish tone, with retest of 1.3500 seen favored. Only break above 1.4000 zone, 200 day MA / Fib 50%, improves
Res: 1.3700, 1.3721, 1.3743, 1.3752
Sup: 1.3628, 1.3600, 1.3590, 1.3555
GBP/USD
Slips to a fresh 9-month low after recovery attempt from 1.5632, 19 Sep low, was capped under 1.5755, main near-term resistance and bear trendline drawn off 1.6453. Upside failure has accelerated losses through 1.5632, hitting new low at 1.5590 so far. Bearish short-term studies see scope for further weakness, with 1.5500 coming in focus. Oversold hourly studies warn of corrective bounce, with initial barriers at 1.5632/54, ahead of trendline resistance at 1.5700.
Res: 1.5632, 1.5654, 1.5676, 1.5700
Sup: 1.5590, 1.5550, 1.5500, 1.5474
USD/JPY
Near-term negative tone continues to dominate after upside repeated failures to clear 77.00 barrier. Fresh extension lower reached levels just above record low at 75.93, with subsequent bounce returning to 76.30/40 zone. Near-term indicators keep focus at the downside, with potential loss of 75.93 to trigger fresh bear phase. On the upside, initial barriers lie at 76.65/75 zone, while only clear break above 77.00 would ease immediate bear pressure.
Res: 76.65, 76.75, 76.97, 77.27
Sup: 76.23, 76.10, 76.00, 75.93
USD/CHF
Continues to trend higher after support was found at 0.8646, with fresh surge through 0.8926, previous high, 200 day MA and main trendline resistance, opening way for further gains. Initial support lies at 0.8930/00 zone, while only below 0.8790 higher platform delays immediate bulls.
Res: 0.8984, 0.9000, 0.9060, 0.9100
Sup: 0.8926, 0.8900, 0.8850, 0.8790
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21-09-2011, 03:18 PM #1
Short Term Technical Analysis for Majors (13:30 GMT)
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