Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 55
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Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
The pair continues to trend lower after today’s gap lower opening extended losses to a fresh 16-month high at 1.2665. Bounce on oversold hourly conditions and break above hourly 20 day SMA, sees scope for further correction, however, strong resistance zone at 1.2857/66/72, 29 Dec low / Fib 50% of 1.3071/1.2665 / 2011 low, is expected to cap the upside for now. Key support area at 1.2600/1.2586, Fib 76.4% of 1.1875/1.4938 and 22 Aug 2010 low, remains in focus, with break here to signal fresh weakness and possible retest of next longer-term supports at 1.2455 and 1.2331, 2009/2008 lows, ahead of key level at 1.1875, 2010 low. Only firm break above 1.2900 would delay and allow for stronger correction.
Res: 1.2780, 1.2811, 1.2857, 1.2872
Sup: 1.2684, 1.2665, 1.2600, 1.2586
GBP/USD
Short-term price action maintains bearish tone, as the latest bear-leg off 1.5668, 03 Jan high, extended below 1.5400, to test 3-month range floor at 1.5360 zone. Corrective bounce is under way, with hourly studies regaining momentum. Initial barriers lie at 1.5466/75, 05/06 Jan lows, ahead of strong resistances at 1.5520, 06 Jan high / Fib 50% of 1.5668/1.5374 descend and bear trendline at 1.5550, that are expected to limit the upside. Break here would ease bear pressure and open way for stronger recovery towards 1.5600/68. On the downside, loss of 1.5360 to trigger fresh weakness and expose strong support at 1.5271, 2011 yearly low and Fib 50% of 1.3501/1.7041, 2009 rally.
Res: 1.5466, 1.5475, 1.5500, 1.5520
Sup: 1.5400, 1.5374, 1.5360, 1.5328
USD/JPY
The pair remains under pressure, as the latest recovery attempt from 76.59, 04 Jan low, just ahead of key support at 76.55, was capped by daily 90 day SMA and subsequent reversal extended below 77.00 mark. Risk is seen on retest of 76.55 support, loss of which to spark fresh weakness towards 76.00 and pre-intervention lows at 75.50. Only clearance of 77.32, 06 Jan high and 77.40, Fib 50% of 78.21/76.59 decline, would signal stronger recovery and keep the downside protected.
Res: 77.00, 77.32, 77.40, 77.60
Sup: 76.78, 76.59, 76.55, 76.10
USD/CHF
Break above 0.9545, previous high, posted on 15 Dec 2011, confirms the end of short-term corrective phase and signals a resumption of broader uptrend. Gains tested levels just under 0.9600 barrier, break of which to open 0.9700 and strong barriers at 0.9743/73, Feb 2011 highs, ahead of 0.9782, yearly high. Corrective pullback on overbought hourlies, faces initial support at 0.9500, ahead of 0.9485, 20 day SMA, also Fib 38.2% of 0.9303/0.9593 upleg.
Res: 0.9564, 0.9577, 0.9593, 0.9600
Sup: 0.9500, 0.9485, 0.9468, 0.9413
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Maintains near-term positive sentiment after pullback from day’s high at 1.2784 was contained by hourly 20 day SMA at 1.2724. Positive European data, released earlier today, are supportive for the single currency, however clearance of 1.2784 and 1.2810/20 barriers is required to resume near-term recovery off 1.2665, today’s fresh 16-month low. Hourly MACD is attempting through the midline, with 20 day SMA underpinning. Wider picture’s outlook, however, remains firmly bearish, while below 1.3100, with focus at 1.2665 as initial support, ahead of more important 1.2600/1.2586, Fibonacci level / 22 Aug 2010 low.
Res: 1.2784, 1.2811, 1.2820, 1.2857
Sup: 1.2724, 1.2700, 1.2684, 1.2665
GBP/USD
Remains in a near-term corrective mode off today’s low at 1.5374, with Fibonacci 38.2% and 50% at 1.5485 and 1.5520, now in focus. Hourly studies are in positive field, but overbought conditions suggest corrective pullback, before fresh push higher. Clearance of 1.5520/60 zone is required to confirm temporary bottom and open way for stronger recovery. Corrective dips should be contained above 1.5420/00, hourly 20 day SMA / intraday low, to maintain near-term positive tone. Loss of key supports, also range floor at 1.5374/60, would weaken the structure and expose key level at 1.5271, 2011 low.
Res: 1.5469, 1.5475, 1.5500, 1.5520
Sup: 1.5420, 1.5400, 1.5374, 1.5360
USD/JPY
The pair remains under pressure, as the latest recovery attempt from 76.59, 04 Jan low, just ahead of key support at 76.55, was capped by daily 90 day SMA at 77.32 and subsequent reversal extended below 77.00 mark. Dips have so far been contained at 76.70 zone, keeping 76.55 support intact for now. However, hourly and 4-hour studies are still negative and only firm break above 77.00 mark would ease bear pressure, with clearance of 77.32/40 required to confirm. Loss of 76.55 risks further weakness at test of 76.10/00, initially.
Res: 77.00, 77.32, 77.40, 77.60
Sup: 76.76, 76.59, 76.55, 76.10
USD/CHF
Corrective dip off today’s fresh high at 0.9593 was contained by 4H 20 day SMA at 0.9489. Fresh gains above 0.9500, look for retest of 0.9593, clearance of which is required to resume broader uptrend and expose 0.9700 next. Otherwise, further consolidation would be likely, with bulls in play while 0.9400 holds the downside.
Res: 0.9543, 0.9564, 0.9577, 0.9593
Sup: 0.9485, 0.9468, 0.9413, 0.9400
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Remains in a near-term corrective mode after leaving a higher low at 1.2720, with break above yesterday’s high at 1.2784, now approaching initial barrier at 1.2811/20, last Friday’s high / Fib 38.2% of 1.3071/1.2665 descend. Hourly studies remain supportive for further extension higher and possible retest of strong resistance at 1.2870 zone that is expected to limit gains, as wider timeframes remain in negative territory. However, regain of levels above 1.2900, would ease bear pressure and look for test of key near-term resistances at 1.3072/1.3100. On the downside, break below 1.2665 to resume broader downtrend and open key supports at 1.2600/1.2586.
Res: 1.2795, 1.2811, 1.2820, 1.2857
Sup: 1.2760, 1.2720, 1.2700, 1.2684
GBP/USD
The pair approaches 1.5500 barrier, figure resistance / Fib 38.2% of 1.5668/1.5374, on a third day of corrective action from 1.5374, last Friday’s fresh low. To confirm near-term basing attempt, regain of 1.5520 zone, Friday’s high / Fib 50%, is required. This would confirm wider picture’s range floor at 1.5360 intact and open way for stronger recovery towards 1.5600/40. Dynamic support at 1.5455, hourly 20 day SMA, maintains near-term bulls, with further dips to be contained above 1.5420, to keep near-term positive structure.
Res: 1.5500, 1.5520, 1.5555, 1.5579
Sup: 1.5450, 1.5420, 1.5400, 1.5374
USD/JPY
Hourly structure remains negative despite dips being contained at 76.75 zone, as 20 day SMA caps the near-term price action. In addition, 90 day SMA on a daily chart, that limited the recent attempts higher, now pointing lower, keeps the downside pressure and possible test of key support at 76.50 in play, with break here to expose 76.00 and pre-intervention low at 75.55. only break above 77.20/32 to avert immediate downside risk.
Res: 77.00, 77.32, 77.40, 77.60
Sup: 76.76, 76.59, 76.55, 76.10
USD/CHF
Near-term price action shows the pair at the back foot, after losing initial support at 0.9500 and additional pressure coming from yesterday’s SNB’s head resignation. Hourly structure remains negative, with 20 day SMA maintaining the latest decline and offering initial resistance, currently at 0.9500. Next downside target lies at 0.9448, Fib 50% of 0.9303/0.9593, loss of which to possibly attract key near-term support at 0.9400 zone, daily 20 day SMA / Fib 61.8%. On the upside, strong barriers lie at 0.9500 and 0.9540, with regain of the latter required to bring bulls in play and open way for retest of yesterday’s high at 0.9593.
Res: 0.9500, 0.9540, 0.9577, 0.9593
Sup: 0.9463, 0.9448, 0.9413, 0.9400
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Bounces above 1.2700 mark, after yesterday’s consolidation of last Friday’s heavy losses. Break above Fib 50% of 1.2877/1.2622 downleg at 1.2750, opens way for further correction, however, negative larger timeframes studies keep the downside favored, with the latest bounce seen as selling opportunity, as long as 1.2877 high stays intact. Near-term focus remains at 1.2622, ahead of key supports at 1.2600/1.2586, below which to trigger fresh weakness towards 1.2455/1.2330, 2009/2008 lows.
Res: 1.2780, 1.2800, 1.2844, 1.2877
Sup: 1.2722, 1.2700, 1.2686, 1.2650
GBP/USD
Extends corrective bounce from 1.5322, last Friday’s low, breaking above bear-trendline off 1.5668, to retrace over 50% of 1.5668/1.5322 descend. Near-term studies are turning positive and look for test of next barrier at 1.5400 zone, 13 Jan high / Fib 61.8%. Break here is required to open way towards key short-term resistance at 1.5500, above which would confirm near-term bottom and avoid scenario of fresh weakness towards 1.5000 zone.
Res: 1.5400, 1.5408, 1.5425, 1.5446
Sup: 1.5350, 1.5300, 1.5275, 1.5233
USD/JPY
Comes under pressure after failure to clear 77.00 mark triggered fresh weakness that is currently testing key support zone at 76.50. Clear break here to signal an end of med-term post- intervention consolidative phase and open way for test of 76.10/00, ahead of record low at 75.56, posted on 31 Oct 2010. Near-term studies remain negative and favor further weakness, with potential bounce on oversold hourlies seen limited at 76.85/77.00.
Res: 76.65, 76.75, 76.85, 77.00
Sup: 76.50, 76.10, 76.00, 75.65
USD/CHF
Continues to move within the recent 0.9400/0.9573 range, as the main upside target at 0.9600 stays intact for now. Strong reversal under 0.9500 mark faces supports at 0.9470, Fib 61.8% and 0.9450, while risk increases for test of key near-term support at 0.9400, loss of which would trigger fresh weakness towards 0.9300 and further delay broader uptrend from 0.7067.
Res: 0.9500, 0.9523, 0.9564, 0.9573
Sup: 0.9470, 0.9450, 0.9400, 0.9350
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
The pair inched higher during the Asian session, but again failed to regain strong barrier at 1.2800, after yesterday’s gains were capped at 1.2800 zone, just under main bear-trendline and subsequent pullback found support above 1.2700 handle. Clearance of 1.2800/10 is required to resume bounce from 1.2622 and expose key near-term barriers at 1.2870/77, daily 20 day SMA that maintains bear-trend from early November 2011 and last Friday’s high, above which to confirm short-term bottom and open way for stronger recovery. On the downside, hourly 20 day SMA offers initial support at 1.2750, ahead of higher base at 1.2710 zone, loss of which would turn near-term tone bearish.
Res: 1.2786, 1.2808, 1.2844, 1.2877
Sup: 1.2750, 1.2716, 1.2710, 1.2700
GBP/USD
Weakens the near-term structure after recovery attempt from 1.5233, last Friday’s fresh 1 ½ year low, ran out of steam at strong resistance zone at 1.5400, 13 Jan high / Fib 38.2% of 1.5668/1.5233 descend. Descend from 1.5400 was contained above 1.5300, also broken bear-trendline, keeping hopes of fresh push towards 1.5400 barrier, break of which is required to continue correction for possible attempt towards key short-term resistance at 1.5500. Failure to sustain gains above 1.5300 and potential break below the latter, would suggest forming of double top and fresh weakness towards 1.5275/33.
Res: 1.5358, 1.5400, 1.5408, 1.5425
Sup: 1.5332, 1.5319, 1.5300, 1.5275
USD/JPY
Maintains negative short-term tone, after the recent failure to clear initial barrier at 77.00, triggered fresh weakness that tested key support at 76.50. Subsequent bounce keeps the latter intact for now, however, negative studies on 1 and 4H charts, keep the downside favored, with bounces towards 77.00 mark seen corrective for now. Only clear break above 77.20/32, daily 90 day SMA / 06 Jan high, would provide relief. On the downside, break below 76.50 to open 76.10/00 next.
Res: 76.73, 76.85, 77.00, 77.20
Sup: 76.62, 76.54, 76.10, 76.00
USD/CHF
Remains at the back foot after repeated failure to reclaim 0.9600 barrier sparked fresh weakness to 0.9445, also Fib 76.4% of 0.9405/0.9573 upleg, where losses were temporary contained. Subsequent recovery attempt was capped at initial barrier at 0.9520 and fresh descend under way, attempting at 0.9445, ahead of key near-term support at 0.9400, below which to open way for further easing and confirm short-term top. On the upside, 20 day SMA at 0.9500 offers initial resistance, ahead of 0.9523, yesterday’s high that is expected to cap the near-term price action, as near-term studies maintain negative tone.
Res: 0.9459, 0.9482, 0.9500, 0.9523
Sup: 0.9445, 0.9410, 0.9400, 0.9350
Windsor Brokers - Short Term Technical Analysis for Majors (14:45 GMT)
EUR/USD
EUR/USD extends near-term recovery after regaining strong barrier at 1.2877 yesterday, with fresh push through 1.2900, Fib 61.8% of 2012 descend from the annual high at 1.3075. Break above 1.2900 has so far reached 1.2925, fresh 2-week high, as the pair attempts through bull channel resistance, to open next level at 1.2950, Fib 76.4%. Corrective easing on overbought hourly studies, faces initial support at 1.2877, previous resistance, where also hourly 20 day SMA lies, ahead of today’s higher low at 1.2838, above which reversal is anticipated, to keep immediate bulls intact. Only loss of 1.2800 handle would weaken the short-term structure.
Res: 1.2925, 1.2950, 1.3000, 1.3020
Sup: 1.2877, 1.2838, 1.2800, 1.2780
GBP/USD
The pair consolidates today’s gains, after strong rally cleared significant barrier at 1.5400 and fresh extension higher so far tested levels just above Fib 50% of 1.5668/1.5233 downleg at 1.5450. Focus remains at the upside target and strong resistance at 1.5500, 10 Jan highs / Fib 61.8%, while corrective dips are expected reverse at/above 1.5400/1.5380 support zone.
Res: 1.5465, 1.5500, 1.5523, 1.5580
Sup: 1.5432, 1.5414, 1.5400, 1.5380
USD/JPY
Near-term price action sees the pair moving in a narrow range and directionless mode, above key support at 76.50. Hourly and 4H studies keep neutral tone, however, negative daily structure keeps the downside under pressure, with focus at 76.50 and possible extension towards 76.00 on a break, while strong barriers at 77.00/30 zone, 06/16 Jan highs / daily 90 day SMA, continue to limit the upside.
Res: 77.00, 77.20, 77.32, 77.50
Sup: 76.77. 76.67, 76.62, 76.54
USD/CHF
Extends the near-term downtrend after losing strong support at 0.9400, to retrace 23.6% of broader Oct/Jan ascend from 0.8566 to 0.9593, at 0.9345. Immediate focus lies at strong support at 0.9300, 03 Jan low / daily 55 day SMA / lower daily Bollinger band, below which would spark stronger correction, while corrective bounces hold below 0.9400/50 barriers.
Res: 0.9400, 0.9445, 0.9463, 0.9500
Sup: 0.9345, 0.9320, 0.9300, 0.9275
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Moves in a near-term corrective mode after extending one-week rally from 1.2622, 13 Jan low, to 1.2984, just ahead of psychological barrier at 1.3000, also Fib 38.2% of 1.3547/1.2622 downleg. Overnight’s gap lower opening signals selling pressure, as gap remains unfilled before Europe’s opening. Hourly studies are negative, with 20 day SMA maintaining near-term weakness. Initial support at 1.2877, previous resistance, so far holds the downside, with break lower to expose next significant support at 1.2840, 19 Jan higher platform / Fib 38.2% of 1.2622/1.2984 ascend, loss of which and 1.2800 handle, to weaken near-term structure. On the upside, initial resistances lie at 1.2900/50, regain of which to re-focus 1.2984/3000 and signal a resumption of short-term uptrend.
Res: 1.2907, 1.2949, 1.2984, 1.3000
Sup: 1.2875, 1.2840, 1.2800, 1.2750
GBP/USD
Consolidates recent gains, after clearance of strong resistance at 1.5500, 10 Jan lower top / Fib 61.8% of 1.5668/1.5233 decline, extended gains to levels just under next significant barrier at 1.5600, daily 55 day SMA. Dips are so far holding above hourly 20 day SMA, with further easing towards 1.5500, now reverted to support, not ruled out, as hourly studies are losing traction. Higher low above 1.5500 would signal fresh attempt higher and test of 1.5600, while only loss of breakpoint at 1.5450/40 zone, also Fib 38.2% of 1.5233/1.5572 upleg, would sideline short-term bulls.
Res: 1.5500, 1.5523, 1.5580, 1.5600
Sup: 1.5526, 1.5500, 1.5450, 1.5415
USD/JPY
Maintains short-term positive structure after fresh gains broke above initial 77.00 barrier and tested key resistance zone at 77.20/30. Corrective dips remain contained by 20 day SMA, with price hovering at 77.00 level and keeping the near-term focus at 77.30. Break here to trigger stronger rally and expose 77.40, daily 55 day SMA, ahead of next strong resistance zone at 78.00/20. On the downside, loss of 76.90/75 to weaken near-term tone and re-focus key short-term support at 76.50.
Res: 77.07, 77.29, 77.32, 77.40
Sup: 76.90, 76.85, 76.75, 76.65
USD/CHF
Near-term price action shows the pair in recovery mode after suffering heavy losses that resulted in test of very important support at 0.9300, where losses were contained for now. Bounce remains supported by 20 day SMA on hourly chart, with today’s gap-higher opening, suggesting further recovery towards next strong barrier at 0.9400, 19 Jan high / Fib 38.2% of 0.9573/0.9304 decline, where reversal is anticipated, as wider picture’s tone remains negative. Loss of 0.9300 to open 0.9242 and 0.9200 next, while sustained break above 0.9400 would signal stronger recovery and expose 0.9445 next.
Res: 0.9376, 0.9400, 0.9413, 0.9445
Sup: 0.9357, 0.9338, 0.9323, 0.9304
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Resumes the short-term uptrend from 1.2622, 13 Jan low, after corrective pullback from 1.2984, last Friday’s high, as contained at 1.2875, 13 Jan high, previous resistance, now reverted to support, also near broken daily 20 day SMA. Fresh strength through previous high at 1.2984, cleared psychological barrier at 1.3000, en-route to the next significant barrier at 1.3075, 03 Jan year-to-date high, with 1.3030 seen so far. Hourly studies in the positive field, continue to support, however, extended conditions warn of correction. Initial supports lie at 1.3000/1.2984, with zone above 1.2900 mark required to protect the downside.
Res: 1.3030, 1.3050, 1.3075, 1.3100
Sup: 1.3000, 1.2984, 1.2926, 1.2910
GBP/USD
The pair remains under strong resistance at 1.5600, daily 55 day SMA, after mild correction from last Friday’s high at 1.5572, found footstep at 1.5515, just above 1.5500, previous resistance, now acting as strong support. Further consolidation is not ruled out, with short-term bulls seen in play while holding above 1.5500 zone. Clearance of 1.5600 to open fresh leg higher and expose 1.5668/78, 03/04 Jan highs / main bear trendline, ahead of strong barrier at 1.5770 zone, Nov Dec range ceiling. Improving daily studies suggest further recovery.
Res: 1.5582, 1.5600, 1.5668, 1.5678
Sup: 1.5526, 1.5515, 1.5500, 1.5450
USD/JPY
Remains under pressure after another unsuccessful attempt to clear key barrier at 77.30/20. Subsequent easing and loss of 77.00 support, now risks further weakness and possible test of key support at 76.50, with losses being contained at initial support at 76.85. Hourly 20 day SMA, currently at 76.95, along with today’s high at 77.07, is expected to cap the upside for now, as hourly studies are losing momentum.
Res: 77.00, 77.07, 77.32, 77.50
Sup: 76.85, 76.75, 76.65, 76.50
USD/CHF
Slides below 0.9300 support, after initial recovery attempt stalled on approach to 0.9400 barrier and capped by 20 day SMA. Fresh weakness through 55 day SMA, penetrated daily Ichimoku cloud at 0.9300, suggesting further retracement of broader uptrend, with loss of Fibonacci level at 0.9200 to focus 0.9170, daily 90 day SMA. Today’s close below 0.9300 is required to confirm.
Res: 0.9300, 0.9323, 0.9376, 0.9400
Sup: 0.9255, 0.9242, 0.9200, 0.9170
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Maintains short-term bullish structure after pullback from last Friday’s high left higher low at 1.2875, previous high and strong support, ahead of fresh strength through 1.3000, psychological support. Market is approaching key barrier at 1.3080 zone, 03 Jan high / Fib 50% of 1.3547/1.2622 descend, break of which to extend recovery and expose next significant resistance at 1.3145 Oct 2011 low. Initial support lies at 1.2984, with 20 day SMA at 1.2945, maintaining short-term bulls. Only loss of breakpoint at 1.2875 would weaken short-term tone.
Res: 1.3050, 1.3075, 1.3100, 1.3145
Sup: 1.3000, 1.2984, 1.2950, 1.2900
GBP/USD
The pair’s one-week rally from 1.5233, 13 Jan low, accelerated after break through strong barrier at 1.5500, to test 1.5600, figure resistance / daily 55 day SMA, where gains ran out of steam. The pullback is seen corrective while support zone at 1.5515/00 hold the downside, with gains through 1.5600 to open strong resistance zone at 1.5670, highs of 03/04 Jan / 90 day SMA / main bear trendline, drawn off 1.6617 peak, for test. Only loss of 1.5500 would weaken short-term structure.
Res: 1.5578, 1.5600, 1.5668, 1.5678
Sup: 1.5536, 1.5515, 1.5500, 1.5450
USD/JPY
Enters again narrow range directionless trading, after upside stays capped at 77.30 zone and temporary support found above key support at 76.50. Near-term studies are neutral, however, larger timeframes outlook remains skewed to the downside, as daily 90 day SMA continues to cap the upside, with risk seen towards 76.50, loss of which to trigger further weakness and expose next support at 76.00.
Res: 77.07, 77.32, 77.50, 78.00
Sup: 76.85, 76.75, 76.65, 76.50
USD/CHF
The near-term price action sees the pair consolidating recent heavy losses that so far reached 0.9250 low. Narrow consolidation holds below 0.9300, initial resistance, with negative short-term studies keeping the downside favored. Next targets lie at 0.9200, Fib 38.2% of 0.8566/0.9593, ahead of 90 day SMA, currently at 0.9170. Only lift above 0.9300, previous low and dynamic resistance of 20 day SMA, currently at 0.9330, would delay immediate bears, while regain of 0.9376/0.9400 is required to confirm near-term basing.
Res: 0.9300, 0.9323, 0.9376, 0.9400
Sup: 0.9250, 0.9242, 0.9200, 0.9170
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Near-term price action runs out of steam, as renewed attempt through 1.3051, yesterday’s high, failed to sustain gains and test next barrier at 1.3075. Subsequent pullback broke below initial support at 1.2984, extending losses to test 20 day SMA at 1.2953 so far. MACD bearish divergence on 4H chart signaled weakness, with hourly studies already in the negative field. Further weakness would risk test of critical support at 1.2875, 13 Jan high / 23 Jan low, with potential break lower, to possibly signal an end of short-term recovery phase. Reversal above 1.2900/1.2875, however, would keep short-term bulls in play, but regain of the territory above 1.30 is required to confirm and re-focus 1.3061, today’s fresh high.
Res: 1.2984, 1.3000, 1.3026, 1.3050
Sup: 1.2950, 1.2917, 1.2900, 1.2875
GBP/USD
Regained strength after corrective pullback from yesterday’s high at 1.5600, found footstep at 1.5532, ahead of strong support zone at 1.5515/0, but fresh rally so far stays under 1.5600, break of which is required to resume short-term uptrend towards strong resistance at 1.5670 zone, highs of 03/04 Jan / 90 day SMA / main bear trendline, drawn off 1.6617 peak. Hourly studies are emerging above their centerlines, while 4H is losing momentum that may risk further consolidation, ahead of fresh attempt higher. Initial static/dynamic support lies at 1.5535, today’s low / 20 day SMA, with break here to risk test of key short-term levels at 1.5515/00.
Res: 1.5593, 1.5600, 1.5668, 1.5678
Sup: 1.5565, 1.5532, 1.5515, 1.5500
USD/JPY
Surges through initial barrier at 77.20/32, 90 day SMA / previous highs, also daily Ichimoku cloud at 77.54, to break above long-term bear-trendline drawn off 124.14, 01 June 2007 high at 77.72, en-route to psychological barrier at 78.00. Break here to open key med-term resistance zone at 78.20/30, Nov-Dec range ceiling. Positive near-term studies support the rally, however, overextended hourly conditions warn of corrective pullback. Previous strong resistance at 77.30 now acts as initial support.
Res: 78.00, 78.21, 78.27, 78.40
Sup: 77.55, 77.32, 77.00, 76.85
USD/CHF
Corrects the recent heavy losses that found temporary support at 0.9230 zone, with regain of initial barrier at 0.9300, looking for further retracement of 0.9573/0.9233 fall. Dynamic resistance at 0.9320, 20 day SMA, comes first, ahead of next significant barrier at 0.9376, yesterday’s high that is expected to limit the upside for now, as short-term studies remain in the negative field. Below 0.9233 to open Fibonacci level at 0.9200, possibly 0.9170, 90 day SMA, while only regain of 0.9376/0.9400 averts downside risk.
Res: 0.9323, 0.9376, 0.9400, 0.9445
Sup: 0.9259, 0.9233, 0.9200, 0.9170