Short Term Technical Analysis for Majors (09:45 GMT)

[WindsorBrokers]

EUR/USD

 

Extends decline, after an upside attempt stalled at 1.3703 yesterday, with 1.3578 being reached thus far. Risk is seen for further pullback, targeting 1.3529, last Friday’s low, break of which will re-focus 1.3433 key support. However, the pair remains in a 1.3433/1.3735 range, with break of either side to establish the direction.

 

Res: 1.3640, 1.3690, 1.3703, 1.3735

Sup: 1.3550, 1.3529, 1.3485, 1.3433

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20100309095304.gif

 

GBP/USD

 

Yesterday’s rejection at 1.5194 has signaled the completion of the first corrective leg off 1.4780 low, with reversal now under way. However, while 1.4780 holds, scope exists for renewed attempt through 1.5194 towards 1.5345 zone, for creation of lower top. Loss of 1.4780 to continue underlying downtrend.

 

Res: 1.5085, 1.5112, 1.5167, 1.5194

Sup: 1.4940, 1.4885, 1.4855, 1.4780

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20100309095328.gif

 

USD/JPY

 

Sharp rally off 88.13 has ran out of steam at 90.67 yesterday, with immediate pullback followed. Today’s break below 60 day MA at 89.98 now confirms near-term bears and risks deeper reversal, as over 38.2% of the original move already been retraced. Next levels seen at 89.40, then 89.11/88.97, while only push above 90.10/50 improves.

 

Res: 90.10, 90.50, 90.67, 91.10

Sup: 89.40, 89.25, 89.11, 88.97

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20100309095404.gif

 

USD/CHF

 

Continues to firm off 1.0673, yesterday’s higher low, clearing now trendline resistance at 1.0760. Current bias favors further gains towards upper levels of the broader 1.0645 to 1.0898 consolidation range. Underlying structure, however, remains positive, while 1.0673 holds.

 

Res: 1.0808, 1.0828, 1.0898, 1.0940

Sup: 1.0724, 1.0673, 1.0645, 1.0630

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20100309095439.gif