EUR/USD
Accelerated gains after yesterday’s break above rising channel top, to hit 1.2953 high, ahead of shallow correction. Focus is now at 1.3000, psychological level, above which would target key 1.3073, 61.8% retracement of 1.3816/1.1875 downleg. Below, 1.2868/35 offers initial support, while loss of 1.2800 would delay immediate bulls.
Res: 1.2953, 1.3000, 1.3073, 1.3095
Sup: 1.2868, 1.2835, 1.2800, 1.2776
GBP/USD
Extended strength from 1.4947/63, to break above 1.5400 level and approach key 1.5500 zone, with 1.5470 seen so far. Clearance of 1.5500/25 would open way for a broader strength, though, risk of a lower top and return to weakness still exists.
Res: 1.5470, 1.5498, 1.5506, 1.5525
Sup: 1.5347, 1.5298, 1.5250, 1.5234
USD/JPY
Extended decline from 89.14 lower top, to briefly test key 86.96 low today, ahead of bounce. Correction is so far seen capped by 87.58/88.00, with potential break below 86.96 to open 86.58/15 next. Above 88.00 to allow a stronger recovery.
Res: 87.58, 88.00, 88.26, 88.62
Sup: 86.96, 86.58, 86.15, 85.85
USD/CHF
Extended the long-term decline from 1.1730, 01 Jun annual low, to breach the 1.0433, 01 Apr reaction low. Bears seek 1.0366, 25 Jan low, ahead of 1.0317, 20 Jan low. Regain of 1.0545 is needed to neutralize short-term bears.
Res: 1.0460, 1.0503, 1.0545, 1.0560
Sup: 1.0399, 1.0366, 1.0317, 1.0295
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16-07-2010, 09:24 AM #1
Short Term Technical Analysis for Majors (08:15 GMT)
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