EUR/USD
Reversal from 1.3691/1.3677 zone found a short-term foothold at 1.3416 yesterday. This level now shields 1.3366 and a key near-term support line at 1.3300. Break below the latter opens 1.3280/66. Lower ceiling at 1.3499/1.3502 caps for now.
Res: 1.3501, 1.3520, 1.3544, 1.3565
Sup: 1.3416, 1.3366, 1.3340, 1.3280
GBP/USD
Has found support at 1.5190 yesterday, with fresh strength emerging. Current attempt through 1.5360 resistance would sideline near-term negative structure in favor of stronger correction towards 1.5448/72. Failure to sustain gains over 1.5360, risks a continuation of near-term bears and opens 1.5190/28 instead.
Res: 1.5385, 1.5448, 1.5472, 1.5520
Sup: 1.5287, 1.5256, 1.5190, 1.5128
USD/JPY
Correction off 94.77, 05 Apr high, reached 91.58 yesterday, ahead of strong bounce. Market is now eyeing 93.10/18, previous peak/trendline resistance, break of which is required to resume underlying uptrend and focus 93.51/77, possibly 94.25 on a break. Rejection under 93.10, however, risks a retest of 91.58
Res: 93.18, 93.51, 93.77, 94.25
Sup: 92.56, 92.10, 91.58, 91.09
USD/CHF
Pullback from 1.0784, 08 Apr high, found support at 1.0500 last week. Higher lows have subsequently developed and clearance of 1.0610/15 completes a base for recovery towards 1.0687/1.0761. 1.0600 now offers immediate support.
Res: 1.0658, 1.0687, 1.0713, 1.0761
Sup: 1.0620, 1.0600, 1.0586, 1.0555
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20-04-2010, 09:26 AM #1
Short Term Technical Analysis for Majors (08:15 GMT)
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