Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 60
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Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)
EUR/USD
EUR/USD extends fall from yesterday, as Fibonacci 61.8% level at 1.3147 and 1.3132, 22 Mar low are cleared, with round figure support at 1.3100 now in focus. Strong support before our key downside targets at 1.3000 and 1.2973, 15 Mar low, lies at 1.3050 zone, where is low of 16 Mar and daily Ichimoku cloud base. Negative near-term studies continue to drive the pair lower, with no signal of correction, despite overextended hourly conditions.
Res: 1.3132, 1.3180, 1.3191, 1.3250
Sup: 1.3100, 1.3050, 1.3000, 1.2973
GBP/USD
The pair continues to trend lower, as minor supports at 1.5859/41 are out, opening way for the next array of supports at 1.5831, 50% retracement of 1.5600/1.6061 ascend, 1.5800, 26 Mar low and 1.5770, 22 mar low / Fib 61.8%. Outlook on lower timeframes remains negative, with hourly studies in oversold zone, suggesting possible corrective action.
Res: 1.5859, 1.5900, 1.5916, 1.5965
Sup: 1.5831, 1.5800, 1.5770, 1.5743
USD/JPY
Failure to break above 83.00 handle, reached late yesterday, triggered correction lower, where 82.50 zone was seen as good support to complete hourly bullish flag, before resuming higher. However, today’s fresh weakness under 82.50 has fully retraced yesterday’s strong rally off 82.00 , where the pair is currently attempting to base, but weaker near-term structure reduces possibility of further significant gains. Initial and strong barrier at 83.00 needs to be cleared to confirm near-term bullish stance off 81.54, otherwise, the latter may come in focus again.
Res: 82.69, 83.00, 83.29, 83.38
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Strong rally off 0.9000 base regained important barrier at 0.9175, 22 Mar high / 50% of 0.9333/0.9000, with further extension higher and test of next hurdle at 0.9200, 15 mar low / Fib 61.8%, seen next. Near-term structure remains positive, however, overbought conditions on both, 1 and 4H charts warn of corrective pullback. Initial support lies at 0.9133, while strong support zone at 0.9100/0.9080 is expected to keep the downside protected, to prevent retest of 0.9000.
Res: 0.9181, 0.9200, 0.9252, 0.9300
Sup: 0.9133, 0.9100, 0.9080, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair undergoes mild correction after hitting fresh low just above 0.9100 supports, yesterday. Corrective rally was so far capped at 1.3150 zone by 20 day EMA. Hourly studies emerged from oversold zone, seeing potential for further recovery, however, situation on 4H chart shows more negative tone. To improve current structure, regain of minimum 1.3200 zone, where also Fib 31.8% of 1.3380/1.3106 descend lies. The recent fall weakened daily structure, as studies approach the midlines, suggesting that corrective action would be limited and fresh weakness seen as likely scenario. Break below 1.3100 low and main bull trendline, to open key short-term support zone at 1.3000/1.2973, lows of 15 Mar / 16 Feb.
Res: 1.3157, 1.3180, 1.3191, 1.3210
Sup: 1.3136, 1.3100, 1.3050, 1.3000
GBP/USD
Near-term corrective phase off yesterday’s low at 1.5832 holds at 1.5900, initial resistance zone, after regaining 200 day MA that was briefly broken. Improvement on hourly chart studies, keeps hopes for further recovery, with lift above 1.5920/30 zone, Fibonacci level and 20/55 day EMA’s required, but prospects remain limited as larger timeframes studies hold more negative tone. Loss of 200 day MA at 1.5850 and yesterday’s low at 1.5832 to expose next targets at 1.5800 and 1.5770.
Res: 1.5908, 1.5920, 1.5930, 1.5950
Sup: 1.5878, 1.5850, 1.5832, 1.5800
USD/JPY
Near-term price action remains entrenched within 82.00/83.00 range, with tone skewed towards the downside, as hourly studies broke below the midlines and 20 day EMA limiting the upside during Asian session. Risk is seen on los of strong near-term support at 82.00 that would weaken the tone further and re-attract recent low at 81.54, loss of which to signal further retracement of 76.00/84.17 rally and open Fibonacci level at 81.05. Only lift above 83.00 handle would avert immediate downside risk.
Res: 82.34, 82.67, 83.00, 83.29
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Corrects the near-term recovery rally off 0.9000 that peaked at 0.9181, strong resistance. Shallow reversal was so far contained by hourly 20 day EMA and just above Fib 23.6 of 0.9000/0.9181 upleg, with hourly studies still above the midlines, seeing potential of base. Indicators on 4H chart are more supportive, as holding positive tone and coming out of overbought territory. Firm break above 0.9180/0.9200, also Fib 61.8% of larger downmove from 0.9333 to 0.9000, is required to resume recovery and confirm bottom at 0.9000. Only break below 0.9100 would harm the near-term structure.
Res: 0.9181, 0.9200, 0.9252, 0.9300
Sup: 0.9142, 0.9135, 0.9113, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)
EUR/USD
Continues to trend lower, after overnight brief correction that was capped at 1.3163. Fresh weakness through 1.3050, 16 Mar low / daily Ichimoku cloud base, now opens way towards significant support zone at 1.3000/1.2973, Feb/Mar lows. Negative tone dominates on near-term studies, with no signals of reversal, despite being in oversold territories. Initial resistances lie at 1.3100/32.
Res: 1.3100, 1.3132, 1.3163, 1.3180
Sup: 1.3038, 1.3025, 1.3000, 1.2973
GBP/USD
Slide off 1.6061, yearly high, was interrupted today by brief corrective bounce off 1.5832, with gains being limited at 1.5900, before bears took control. Fresh weakness broke below 200 day MA at 1.5845 and yesterday’s low at 1.5832, also 50% of 1.5600/1.6061 upleg, signaling further retracement. Immediate downside targets lie at 1.5800 and 1.5770, while today’s high at 1.5908 caps the upside for now.
Res: 1.5841, 1.5859, 1.5900, 1.5908
Sup: 1.5816, 1.5800, 1.5770, 1.5743
USD/JPY
Near-term structure weakened further after loss of 82.00 base. Dips so far reached 81.82, ahead of quick reversal above 82.00 barrier. This is seen corrective, as long as yesterday’s intraday high and 55 day EMA at 82.60 zone stay intact and only break here to improve near-term negative outlook. Hourly RSI emerged from oversold zone, while other indicators hold negative tone, while 4H studies remain negative, keeping the downside vulnerable for retest of previous low at 81.54, below which to open 81.00 zone next.
Res: 82.34, 82.67, 83.00, 83.29
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Remains in a strong uptrend from 0.9000 base, after brief pause off 0.9181, ended at 0.9141. Fresh strength surged through 0.9181 and 0.9200, Fib 61.8% of 0.9333/0.9000, to signal further recovery towards next barrier at 0.9250, 16 Mar high. Near-term positive structure remains supportive although studies are quite extended. Today’s intraday high and correction floor at 0.9181/41, offer initial support.
Res: 0.9221, 0.9252, 0.9300, 0.9333
Sup: 0.9181, 0.9141, 0.9135, 0.9116
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Near-term price action remains in a neutral mode, as fading risk appetite limits the latest recovery attempt off 1.3032. Range ceiling at 1.3143, yesterday’s high, offers immediate resistance, with strong barrier at 1.3165, 05 Apr high / Fib 38.2% / 4H 55 day EMA. Only break here to open way for stronger recovery, as 4H chart studies are gaining momentum. Daily indicators, however, show the downside pressure and only regain of 1.3200/20, 55/90 MA’s / trendline resistance, would improve the outlook.
Res: 1.3137, 1.3143, 1.3163, 1.3191
Sup: 1.3065, 1.3050, 1.3032, 1.3000
GBP/USD
The pair regains strength after yesterday’s retest of 1.5800 base, where losses were contained. Fresh strength regained 1.5900 handle but break above key resistance zone at 1.5930 zone, where yesterday’s high and 50% retracement of 1.6061/1.5804 lie, is required break out of near-term range and confirm higher base at 1.5800 zone for extension higher and test of 1.5964/1.6000, Fibonacci / round figure resistances. Key near-term support lies at 1.5800 and only break here would weaken the structure and resume short-term bears off 1.6061.
Res: 1.5920, 1.5930, 1.5964, 1.6000
Sup: 1.5850, 1.5834, 1.5800, 1.5769
USD/JPY
The pair continues to move lower, extending its short-term corrective phase off 84.17, fresh yearly high. Yesterday’s consolidative attempt off off 81.20 was capped at 81.85, with fresh weakness extending losses through 81.00 to 80.61 so far. Negative tone keeps the downside in focus, with 55 day MA at 80.43, seen next, ahead of 50% retracement at 80.09. Initial resistance lies at 81.20, while only lift above 82.00 would pause short-term bears.
Res: 81.00, 81.20, 81.66, 81.85
Sup: 80.61, 80.43, 80.09, 80.00
USD/CHF
The pair trades in a neutral mode during the past few days, after the upside was capped at 0.9221. As studies on 4H chart are started to point lower, range floor and initial support at 0.9144, comes under pressure. Break here to sideline short-term bulls off 0.9000 base and open 0.9100/0.9090. Only break above 0.9220/30, previous high / trendline resistance, would revive bulls and open 0.9250/0.9300 zone.
Res: 0.9193, 0.9209, 0.9221, 0.9230
Sup: 0.9144, 0.9132, 0.9100, 0.9090
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Continues to trade within 1.3050/1.3150 range, with near-term price action moving towards the upper side of the range. Hourly studies keep slightly positive tone, with 4H chart studies improving. Break above strong barrier at 1.3165, where 55 day EMA limits the near-term recovery off 1.3032, is required to trigger fresh gains for test of next significant resistance zone at 1.3200/20, where 55/90 day MA’s and trendline resistance lie. Daily studies, still in the negative territory, keep the downside pressured with critical supports at 1.3000/1.2973, broader range floor, remaining in focus, as long as 1.3200 zone caps.
Res: 1.3156, 1.3163, 1.3191, 1.3200
Sup: 1.3105, 1.3092, 1.3065, 1.3050
GBP/USD
Near-term corrective phase off 1.5800 base, remains limited at 1.5930 zone, 50% retracement of 1.6061/1.5800 downleg, so far. Current test of range ceiling is supported with positive hourly/4H studies, with break higher to avert downside risk and open way towards 1.6000 zone. Loss of 1.5800 platform, however, would bring bears back in play.
Res: 1.5937, 1.5964, 1.6000, 1.6045
Sup: 1.5910, 1.5885, 1.5850, 1.5834
USD/JPY
Not much action seen after the pair tested our target at 80.57, as near-tern corrective bounce holds at 81.00 zone. Immediate barrier lies at 81.20 and with improving hourly studies, stronger correction through 81.20 towards 81.85/82.00 is not ruled out. However, negative outlook on larger timeframes keeps the downside favored, with 80.00 zone seen as next target, after 80.57 is cleared.
Res: 81.00, 81.20, 81.66, 81.85
Sup: 80.61, 80.43, 80.09, 80.00
USD/CHF
The pair trades in a neutral mode during the past few days, after the upside was capped at 0.9221. As studies on 4H chart are entering negative territory and brief break below range floor and 55 day EMA at 0.9144, keeps the downside vulnerable. Immediate downside targets lie at 0.9127, yesterday’s low, ahead of 0.9112 50% retracement, while loss of 0.9100 handle would confirm lower top at 0.9221 and re-focus 0.9000 base. On the upside, 0.9180/0.9200 offer good resistance and regain of these levels is required to bring bulls back in play.
Res: 0.9162, 0.9180, 0.9193, 0.9209
Sup: 0.9141, 0.9127, 0.9100, 0.9090
Windsor Brokers - Short Term Technical Analysis for Majors (10:00 GMT)
EUR/USD
Bounce off yesterday’s fresh one-month low at 1.2993, when the pair tested the upper border of very strong 1.3000/1.2950 support zone, provided near-term relief. Extension from today’s higher low at 1.3090, broke above yesterday’s high at 1.3146 and dented trendline resistance at 1.3155, with sustained break here required to open way for test of next strong barrier at 1.3200/11, main bear-trendline off 1.4246 / 12 Apr high / 55 day MA and confirm near-term base at 1.2993. Hourly studies are positive, but approaching overbought territory, while indicators on 4H chart are attempting to break above midlines. Daily studies, however, are still in the negative zone and only firm break above 1.3200 barrier would signal an improvement.
Res: 1.3171, 1.3200, 1.3211, 1.3252
Sup: 1.3090, 1.3053, 1.3032, 1.3000
GBP/USD
The pair’s near-term price action moves in a steep uptrend, after very strong support at 1.5800 zone, also top of daily Ichimoku cloud, contained the latest slide off 1.5984, 12 Apr high. The third leg of recovery from 1.5817, yesterday’s low, started at 1.5861, today’s low, is approaching our key near-term resistance at 1.5984, above which to signal break above near-term range and re-focus 1.6061, yearly high of 02 Apr. Extended hourly studies may signal corrective action, preceding fresh rally, with initial support at 1.5900 zone, expected to protect the downside. Only loss of today’s low at 1.5861 weakens the structure and risks return to 1.5800 support zone.
Res: 1.5969, 1.5984, 1.6000, 1.6061
Sup: 1.5910, 1.5900, 1.5861, 1.5841
USD/JPY
The near-term consolidation above yesterday’s fresh low at 80.28, is seen as a pause in a broader downtrend off 84.17, yearly high, as short-term studies remain negative, as well as daily ones. As long as previous consolidation range ceiling at 81.18 stays intact, immediate focus will be at the downside, with targets at 80.00 and 79.52, in case 80.28 support gives way. Only lift above 81.18 would allow for stronger correction and open next barriers at 81.54 and 81.81.
Res: 80.72, 81.00, 81.20, 81.66
Sup: 80.28, 80.09, 80.00, 79.52
USD/CHF
Comes under increased pressure after yesterday’s failure to sustain gains above key barriers at 0.9220 zone, previous high / main bear trendline / 90 day MA, as fresh weakness broke below strong supports at 1.9150/40 zone. Immediate risk is seen on retesting main bull trendline off 0.9000 base, loss of which to open way towards very strong supports at 0.9000 and 0.8930, on a break. Overall negative tone on lower timeframes, keeps the downside pressured, while studies on a daily chart are moving sideways and holding around their midlines.
Res: 0.9180, 0.9200, 0.9221, 0.9250
Sup: 0.9120, 0.9100, 0.9090, 0.9069
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Short-term price action remains within 1.3000/1.3250 range, moving in a sideways mode and trading around 1.3100 handle for most of the time. Studies on lower timeframes hold neutral tone, with overnight’s trade being entrenched within 30-pips range. Immediate upside barriers lie at 1.3140 and 1.3170 and strong resistance at 1.3200, bear trendline / 55 day MA, capping the short-term action. Yesterday’s low at 1.3056 offers good support, ahead of key one at 1.3000. Release of data from Spain and US later today would likely trigger more action.
Res: 1.3140, 1.3171, 1.3200, 1.3211
Sup: 1.3104, 1.3090, 1.3056, 1.3032
GBP/USD
Maintains short-term bullish tone, after 200 day MA and main bull trendline off 1.5233, contained the recent dips. Fresh rally cleared initial barriers at 1.5980/1.6000 zone, heading north towards key barrier at 1.6061, yearly high of 02 Apr. Near-term studies remain positive, though, overextended conditions may signal corrective action. Previous resistances now offer immediate supports, while break above 1.6061opens next targets at 1.6090/1.6100, ahead of 1.6030/64.
Res: 1.6044, 1.6061, 1.6090, 1.6100
Sup: 1.6013, 1.6000, 1.5991, 1.5984
USD/JPY
Near-term recovery off 80.28, 16 Apr low, remains in play after the pair cleared initial hurdles at 81.00/18, to test the next one at 81.50 so far. Brief correction that followed was contained above 81.00, with renewed attempt higher required to break above 81.50, to resume rally and open the next barrier at 82.00. Loss of momentum on hourly chart warns of possible reversal, however, more positive tone is seen on 4-hour chart. Loss of 81.20/00 zone support, overnight’s low / 55 day EMA, would soften the near-term tone.
Res: 81.55, 81.82, 82.00, 82.54
Sup: 81.32, 81.15, 81.00, 80.82
USD/CHF
Failure at 0.9250 on 16 Apr, and yesterday’s upside rejection at 0.9208, keep the upside limited for now, with bear-trendline from 0.9593 capping, as hourly studies start to point lower. Immediate support at 0.9150, near-term range lows and main bull trendline off 0.9000 base, comes under pressure and break here to weaken the structure and open next supports at 0.9120/00 area.
Res: 0.9173, 0.9208, 0.9221, 0.9250
Sup: 0.9150, 0.9120, 0.9100, 0.9090
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair starts the week at the back foot, following last week’s strong gains off 1.3000 base that slightly exceeded previous peak at 1.3211. Overnight’s gap lower opening sees potential of corrective action, as hourly studies are pointing lower. Initial supports lie at 1.3170/60, ahead of 1.3140 zone where 55day EMA and Fib 38.2% of 1.2993/1.3223 ascend should contain dips to keep bullish short-term structure intact. Only loss of 1.3110, 90 day MA and 1.3100, figure support, would weaken the structure. Immediate resistance lies at 1.3223, last Friday’s peak, ahead of 1.3235, Fib 61.8% of 1.3385/1.2993 descend and 1.3250/77, 29 Mar / 02 Apr lows.
Res: 1.3200, 1.3211, 1.3223, 1.3235
Sup: 1.3170, 1.3160, 1.3140, 1.3120
GBP/USD
Remains in a steady uptrend from last week’s low at 1.5817, with fresh high posted last Friday at 1.6142. Daily structure remains bullish, focusing the next target and strong resistance at 1.6164, 31 Oct 2011 high and Fib 61.8% of longer-term descend from 1.6745, 2011 peak, to 1.5233, low of 2012. Overextended studies on 4H chart, however, would signal corrective pullback, with initial support at 1.6100, coming under pressure, ahead of 1.6061, previous high / 20 day EMA. Loss of breakpoint at 1.6000 would turn focus lower.
Res: 1.6142, 1.6164, 1.6200, 1.6223
Sup: 1.6100, 1.6061, 1.6037, 1.6008
USD/JPY
The near-term structure weakens as the pair, unable to clear 81.80, bear-trendline off 84.08 high, breaks below past few day’s range floor at 81.40. Hourly studies are below their midlines, with 4H chart ones, pointing lower. Immediate focus lies at 81.00 zone, also 50% of 80.28/81.77 upleg, below which to confirm lower top, ahead of possible return to 80.28, last week’s low. Initial barriers lie at 81.40/65, while only break above 81.74/77, trendline resistance / previous peak would signal an extension of short-term bulls from 80.28.
Res: 81.40, 81.65, 81.77, 82.00
Sup: 81.16, 81.00, 80.85, 80.28
USD/CHF
Maintains negative short-term tone off last weeks’ peak at 0.9250, with break below 0.9100 zone, short-term range floor / Fib 61.8%, further weakening the structure. Today’s gap higher opening, with hourly studies emerging from their extremes, sees potential for stronger corrective action, with initial resistance at 0.9125 being tested so far. Trendline resistance at 0.9156, comes next and only sustained break here to avert immediate downside risk, as studies on 4H chart remain negative. Daily indicators are still holding neutral tone.
Res: 0.9134, 0.9156, 0.9173, 0.9194
Sup: 0.9100, 0.9090, 0.9084, 0.9069
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Returns to 1.3150, previous support, after reversal from Friday’s peak at 1.3223, found support at 1.3100 zone, also 50% retracement of 1.2993/1.3223 upleg. Overnight’s trading was moving within very narrow range and in a sideways mode. Fresh momentum on hourly chart sees potential for break higher, as price holds above hourly 20/55 day EMA’s, with immediate resistance at 1.3170 zone, previous highs / Fib 61.8% of the latest fall, break of which to confirm higher low and re-focus key near-term hurdle at 1.3223. Still weak picture on a daily chart sees 1.3200/23 zone as strong barriers, as the price action remains trapped between 55 day MA on the upside and 90 day MA on the downside, currently at 1.3200 and 1.3113, respectively.
Res: 1.3170, 1.3180, 1.3200, 1.3223
Sup: 1.3144, 1.3100, 1.3068, 1.3056
GBP/USD
Near-term price action holds neutral tone, as the pair continues to consolidate under last Friday’s high at 1.6142, with downside being protected at 1.6075, yesterday’s low. Extended studies on 4-hour chart, reduce possibilities of break higher, with risk seen for stronger correction, in case initial support zone at 1.6075/61, gives way. Significant supports lie at 1.6010 zone, 19 Apr low / Fib 38.2% of 1.5817/1.6142 / 55 day EMA. On the upside, clearance of 1.6142, opens very strong barrier at 1.6164, 31 Oct 2011 high / Fib 61.8% of 1.6745/1.5233 longer-term descend, for test.
Res: 1.6126, 1.6142, 1.6164, 1.6200
Sup: 1.6075, 1.6061, 1.6020, 1.6008
USD/JPY
Continues to trend lower after recovery rally from 80.28 was capped just under bear-trendline from 84.08. Loss of 81.00 handle has so far tested 80.85, Fib 61.8% of 80.28/81.77 rally, with negative near-term outlook, keeping the downside favored for now. Immediate target lies at 80.57, ahead of key short-term support at 80.28, loss of which would signal an extension of broader reversal from 84.17, 15 Mar annual high and open next targets at 80.00 and 79.52. Strong hourly resistance lies at 81.20, overnight’s high / 55 day EMA and only lift above here would avert immediate downside risk. However, regain of 81.67/77, trendline resistance / 20 Apr high, provides relief.
Res: 81.00, 81.25, 81.40, 81.67
Sup: 80.85, 80.57, 80.28, 80.09
USD/CHF
Maintains negative short-term tone off 0.9250 peak, following yesterday’s false break above main bear-trendline, drawn off 0.9250. Reversal under the trendline and break below overnight’s range floor at 0.9130, risks retest of key short-term support zone at 0.9100/0.9080, lows of 12 and 20 Apr, as well as Fib 61.8% of 0.9000/0.9250 upleg. Break here to open way for fresh leg lower and expose 0.9000. Initial resistance lies at 0.9140, while only break above 0.9170, yesterday’s high, would improve the short-term structure.
Res: 0.9140, 0.9150, 0.9170, 0.9187
Sup: 0.9113, 0.9100, 0.9090, 0.9084
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.
Res: 1.3269, 1.3277, 1.3300, 1.3366
Sup: 1.3229, 1.3211, 1.3200, 1.3157
GBP/USD
Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, initial resistance, with clear break here to expose 1.6388, Fib 76.4% of longer-term 1.6745/1.5233 descend. However, overextended conditions on lower timeframes, see risk of corrective pullback. Initial supports lie at 1.6263/28, while strong support at 1.6200 zone is expected to contain.
Res: 1.6300, 1.6350, 1.6388, 1.6400
Sup: 1.6263, 1.6253, 1.6228, 1.6205
USD/JPY
Remains under strong pressure after upside rejection at 81.77/68, with loss of previous low at 80.28, confirming lower top at 81.77 and extension of broader downtrend from 84.17, annual high. The pair is currently testing 80.00 zone, 50% of 76.00/84.17 and daily Ichimoku cloud base, loss of which to open next support at 79.52, Oct 2011 post-intervention peak. Negative near-term studies keep the downside in focus, however, overextended hourlies, see potential for corrective bounce. Previous low and overnight’s high at 80.28/38, offer initial resistance, with regain of 81.00, 55 day EMA, required to ease bear-pressure and allow for stronger correction.
Res: 80.28, 80.38, 80.50, 80.74
Sup: 80.07, 80.00, 79.52, 79.00
USD/CHF
Continues to trend lower after losing important support at 0.9100 zone. Last Friday’s upside rejection at trendline resistance at 0.9130 and sharp fall to 0.9050 so far, keeps our next target at 0.9000 in focus. Any bounce higher would be seen as corrective, while only clearance of 0.9130 barrier provides near-term relief. Short-term studies hold negative tone, as the pair attacks daily triangle support at 0.9050.
Res: 0.9077, 0.9100, 0.9130, 0.9170
Sup: 0.9050, 0.9015, 0.9000, 0.8930