• Home ::
• Technical ::
• Analysis Reports ::
• Currency Majors Technical Perspective

• Send
• Print
• Add To
• Rss

Currency Majors Technical Perspective

Mon, Nov 30 2009, 14:18 GMT
by Valeria Bednarik

FXstreet.com Independent Analyst Team

EUR/USD Current price: 1.5017

Slightly bearish in the hourly chart, pair failed to break above yearly high and retreat to current levels, still above 1.5000 area. Current candle opening under 20 SMA support further falls in the next hours yet will likely confirm such movements with an acceleration under 1.5000. Nest support in the pair comes at the daily low, around 1.4970, while back above 1.5040, chances of further falls seems quite limited. 4 hours charts are losing upside momentum but mostly flat, no giving a clear bias. Gold and stocks remain key pair movers.

Support levels:  1.4970 1.4930 1.4880

Resistance levels: 1.5020 1.5060 1.5100

GBP/USD Current price: 1.6469

Approaching to daily low, hourly charts are slightly bearish at this point, with 1.6450/60 as immediate support level to watch. Break and confirmation under that zone will support further falls during next hours, as bigger time frames also favor the downside, after the pair broke under 200 EMA in the 4 hours chart.

Support levels: 1.6460 1.6410 1.6375

Resistance levels: 1.6520 1.6550 1.6600

USD/JPY Current price: 86.54

Current candle opening above 38.2% retracement of past week fall, also above 20  SMA support some upside movements during next hours. Hourly indicators are slightly bullish, yet pair remains capped by 87.00 level, 50% retracement of the last rally, also previous yearly low. Only a clear break above could extend the upside correction, thus long term bias remain strongly bearish in the pair, unless above 89.00, daily descendant trend line. 4 hours charts are also slightly bullish, supporting the view.

Support levels: 86.40 86.10 85.75

Resistance levels: 87.00 87.40 87.80

USD/CHF Current price: 1.0045

Barely above 1.0030 support, pair has regained some upside strength still not confirmed by hourly indicators, as pair has not enough momentum to extend current rally. First resistance comes at the 1.0070 area, yet we need to see a clear confirmation at least above 1.0100 to see the pair extend the upside rally. Under 1.0030 support, pair likely fall back under parity, denying further rises for the rest of the day.

Support levels: 1.0030 0.9960 0.9920

Resistance levels: 1.0070 1.0100 1.0135

Published on  Mon, Nov 30 2009, 14:20 GMT