Short Term Technical Analysis for Majors (09:15 GMT)

[WindsorBrokers]

EUR/USD

 

Maintains negative near-term tone. Yesterday’s attempt at 1.3529, 05 Mar pivot, reached 1.3536, before bouncing to mark a possible lower top at 1.3615. Break below 1.3536/22 support zone would direct the market towards lower levels of 1.3433/1.3789 band.

 

Res: 1.3615, 1.3640, 1.3690, 1.3703

Sup: 1.3529, 1.3513, 1.3485, 1.3443

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20100310091403.gif

 

GBP/USD

 

Continues to trend lower, focusing 1.4853/1.4780 lows. However, as long as the latter holds, possibility for attempt higher towards 1.5345 zone is not ruled out. Early break under 1.4780 range bottom, would trigger fresh weakness towards 1.4396, 22 Apr 09 low.

 

Res: 1.5026, 1.5085, 1.5112, 1.5167

Sup: 1.4885, 1.4855, 1.4833, 1.4780

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20100310091428.gif

 

USD/JPY

 

Recovery phase from 88.13, 04 Mar low, peaked at 90.67 high on 08 Mar, before yesterday’s relapse to 89.62. Minor rejection here suggests possible scope for push above 90.67 to target 91.30, 23 Feb high. Loss of 89.62/40, however, would bring test of 88.14 back in focus.

 

Res: 90.50, 90.67, 91.30, 91.63

Sup: 89.62, 89.40, 89.25, 89.11

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20100310091502.gif

 

USD/CHF

 

Continues to firm within broad 1.06451.0898 near-term consolidation band. Momentum supports immediate bull structure for a test on 1.0802/08 (09/05 Mar highs, with potential break there to focus 1.0889/98 next. 1.0720/40 zone underpins advance for now.

 

Res: 1.0808, 1.0828, 1.0898, 1.0940

Sup: 1.0722, 1.0673, 1.0645, 1.0630

 

http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20100310091552.gif